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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 cardnetworkrules surrounding it. The law became effective on July 1, 2024.
That said, you can’t just decide and impose credit card surcharges overnight. It requires stringent adherence to regulatory guidelines and cardnetworkrules, from surcharge caps to disclosure requirements. Learn how your business can capitalize on these transaction fees while staying on the right side of the law.
For example, Colorado, Connecticut, Massachusetts, and others have laws prohibiting surcharges. Determining the legality of charging credit card fees requires understanding various individual state laws , cardnetwork regulations, and the type of fee being charged. That said, not all states allow this practice.
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