Payment Savvy

JULY 3, 2024

Understanding debit card processing fees is important for any business that takes card payments. What Are Debit Card Processing Fees? Debit card processing fees are charges that businesses must pay every time they accept a debit card payment.

Debit Card 52

Debit Card Process Debit Transaction Processors 52

Stax

JULY 30, 2024

Unfortunately for them though, credit card payments come with a cost. billion in fees for accepting Mastercard and Visa credit cards in 2023. This was, in fact, the first time that swipe fees for these two card networks crossed $100 billion. The surcharge rate cannot exceed credit card processing fees.

Credit Cards 88

Credit Cards Laws Rules Debit Card 88

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

Payment Savvy

JULY 12, 2024

Complexity of Implementation: Ensuring compliance with various card network rules and state laws can be complicated. Legal Considerations for Convenience Fees Before implementing convenience fees , it’s crucial to understand the legal landscape and card network rules that govern these charges.

Card Network Rules 52

Card Network Rules Non-Bank Alternative Payment Methods Credit Cards 52

Stax

JANUARY 15, 2024

Utilizing global payment networks (Visa, Mastercard, etc.) Compliance with Payment Card Industry (PCI) Standards The Payment Card Industry Data Security Standard (PCI DSS) ensures secure cardholder data processing, storage, and transmission. Do they favor credit over debit cards? You’re all set!

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Stax

NOVEMBER 15, 2023

They can vary based on factors like the type of card (debit, credit, rewards, etc.) These go to the card networks themselves, like Visa, Mastercard, or American Express. Interchange fees are set by the credit card networks (Visa, Mastercard, Discover, American Express, etc.)

Credit Cards 88

Credit Cards Processors Assessments Non-Bank 88

EBizCharge

JUNE 28, 2024

Credit card (CC) surcharges are subject to different rules than those for debit cards. While retailers can impose surcharges on credit card purchases, debit card transactions are shielded from such fees, including when the debit card is run “as credit.”

Credit Cards 52

Credit Cards Legal Debit Card Disputes 52