Stax

JULY 30, 2024

TL;DR A credit card surcharge program can be particularly beneficial for small businesses to offset the cost of accepting credit card payments. However, before implementing it, you must know all the state, federal, and card network rules surrounding it. Montana – The surcharge rate is capped at 3%.

Credit Cards 166

Credit Cards Laws Rules Debit Card 166

Stax

SEPTEMBER 26, 2024

That said, you can’t just decide and impose credit card surcharges overnight. It requires stringent adherence to regulatory guidelines and card network rules, from surcharge caps to disclosure requirements. Credit card networks like Mastercard and Visa set a universal limit of 4% on these fees.

Credit Cards 88

Credit Cards Caps Best Practices Laws 88

EBizCharge

JUNE 28, 2024

Fee amount The amount that can be charged for CC fees is determined by credit card company regulations. Credit card networks impose a cap on surcharges, typically restricting them to no more than the merchant’s cost to process credit card transactions or up to 3%, whichever is lower.

Credit Cards 52

Credit Cards Legal Debit Card Disputes 52

Segpay

FEBRUARY 28, 2024

Try negotiating caps after volume thresholds or bundled transaction pricing. Costs for authorizations, captures, batch settlement entries, decline fees, and other lifecycle events nickel and dime merchants. Transaction fees especially erode thin-margin businesses with average tickets under $15.

Processors 52

Processors IRS Push-to-Card Non-Bank 52