Stax

APRIL 10, 2025

The payment method is outside the control of a centralized authority like the central banks that issue and guarantee traditional legal tender (money). And the fact that we dont have established local and international regulations managing their usage means people have little legal recourse if things go wrong.

Small Business 88

Small Business Wire Transfer BNPL ACH 88

The Fintech Times

FEBRUARY 14, 2024

Crucial for organisations worldwide, this transformation rewrites the rules and offers a seamless alternative to tedious data entry, high processing costs, and lost invoices, promising a new era of financial agility. This involves considering the size of your organisation and the volume of processed invoices.

Automation 103

Automation Process Duplicate Compliance 103

Stax

FEBRUARY 5, 2024

This surcharge covers the cost of processing credit card payments via platforms like Visa, Mastercard, and American Express. Businesses apply it to offset e-payment processing costs for transactions where customers pay with credit cards rather than cash. Q: What does surcharges mean in payment processing?

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

Stax

JANUARY 24, 2024

However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic. Simply put, a surcharge amount is an extra fee that some merchants choose to levy on customers to cover the costs of processing credit card payments.

Credit Cards 88

Credit Cards Laws Legal Caps 88

Stax

JANUARY 24, 2024

However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic. Simply put, a surcharge amount is an extra fee that some merchants choose to levy on customers to cover the costs of processing credit card payments.

Credit Cards 88

Credit Cards Laws Legal Caps 88

The Payments Association

OCTOBER 24, 2024

Chargeback abuse costs billions, but merchants can reduce fraud with proactive strategies like customer engagement and better security Imagine you’re an ecommerce merchant accepting credit and debit cards, diligently following legal and network guidelines. Legal recourse : Taking legal action against fraudsters.

Disputes 88

Disputes Non-Bank MFA Legal 88

Stax

DECEMBER 20, 2023

Interchange fees are simply a cost of doing business. Understanding the concept of interchange fees is crucial for businesses looking to optimize their payment processing costs. At the end of the day, how much you’re paying for credit card processing relies on your payment solutions provider. How Much Do You Pay?

Credit Cards 167

Credit Cards Debit Card Processors Non-Bank 167

Stax

JANUARY 15, 2024

Are you struggling with resource constraints caused by soaring credit card processing costs? Failure to comply with its policy frameworks can have severe consequences— legally and financially. Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Stax

APRIL 2, 2024

As more businesses opt for a surcharge program to manage their ballooning costs, it’s important to be aware of best practices around notifying your customers about this additional fee to not only follow all legal requirements, but also provide a seamless customer experience. Carefully follow all legal and ethical requirements.

Credit Cards 88

Credit Cards Best Practices Legal Compliance 88

Stax

JANUARY 10, 2024

Viewing these costs individually makes it easier to understand what is contributing to your credit card processing costs and where you may be able to save money. Additional fees As well as the credit card fees mentioned above, there are a range of other fees that contribute to credit card processing costs for business owners.

Credit Cards 88

Credit Cards Processors Debit Card Processing Costs 88

Stax

FEBRUARY 28, 2024

If you’re not sure where to start, keep reading to find out the benefits of implementing surcharging, how to ensure legal compliance, and how you can use technology for smooth sailing in the surcharging landscape. Customers who want to use their credit card have to pay an additional fee covering the processing costs.

Credit Cards 88

Credit Cards Debit Card Legal Laws 88

Stax

SEPTEMBER 24, 2024

It’s meant to incentivize customers to pay using cash and reduce the costs associated with accepting electronic payment methods. On the other hand, surcharging passes the processing cost to the customer. Cash discount programs are legal in all states in the U.S. On the other hand, cash discounts are legal everywhere.

Credit Cards 88

Credit Cards Electronic Fund Transfer Act (EFTA) Push-to-Card Debit Card 88

Stax

DECEMBER 6, 2023

Businesses must be aware of and adhere to these rules to avoid legal complications and maintain their reputation. Credit card surcharging is legal in most of the US, with the exception of Connecticut, Massachusetts and Puerto Rico. By adding a surcharge, merchants can recoup these costs. Is it legal to charge surcharge fees?

Consumer 88

Consumer Credit Cards Alternative Payment Methods Debit Card 88

Payment Savvy

JULY 12, 2024

This fee compensates for these alternative methods’ higher processing costs and potential risks. On the other hand, Surcharges are applied only to credit card payments and are meant to offset the merchant’s cost of processing credit card transactions. Remember, transparency and compliance are key.

Card Network Rules 52

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

Stax

JUNE 11, 2024

Cash discounting and surcharging can be offered together but merchants need to understand their legality and ensure compliance with card brand or card network (e.g. Also, clear communication with customers about price changes is crucial for building trust and ensuring legal compliance. Visa, Mastercard, etc.)

Debit Card 68

Debit Card Credit Cards Legal Adjustments 68

Stax

DECEMBER 13, 2023

TL;DR Credit card processing fees can add up quickly and eat into a business’s bottom line. Fortunately, in states where surcharging is legal, you can recoup these processing costs by transferring them to the cardholder. to their payment processing company. In exchange, businesses pay a host of different fees (e.g.

Credit Cards 88

Credit Cards Debit Card Laws Rules 88

Cardfellow

MARCH 22, 2025

Costs of Processing Interchange is one of three components of total processing costs. They are simply creating a category where they set their own cost and group many different interchange rates in that category. They are not able to pad interchange and instead must pass it through to you at true cost.

Process 40

Process Processors Credit Cards Non-Bank 40

Stax

SEPTEMBER 26, 2024

The first step is to confirm whether surcharging is legal in your state and, if so, what the maximum allowable rate is. Visa and Mastercard explicitly forbid surcharging on debit cards and prepaid cards to maintain consistency in processing costs. Here are 4 key areas to follow for a smooth and compliant implementation.

Credit Cards 88

Credit Cards Caps Best Practices Laws 88

Stax

JULY 5, 2024

This fee falls under the category of of non cash adjustment—a term that a term that describes any additional charges applied to non cash payments to cover processing costs. Here, the noncash adjustment fee indicates that the customer paid with a debit or credit card and that the fee was added to cover the payment processing cost.

Adjustments 68

Adjustments Credit Cards Debit Card Best Practices 68

Stax

NOVEMBER 15, 2023

They significantly impact the cost of accepting card payments. Understanding interchange fees enables merchants to effectively manage processing costs, negotiate better rates, make informed decisions about card acceptance, and ensure compliance with payment industry standards.

Credit Cards 88

Credit Cards Processors Assessments Non-Bank 88

EBizCharge

JULY 25, 2024

Understanding the purpose behind credit card surcharge signs is crucial since they’re used to inform customers while ensuring businesses adhere to legal standards. Credit card surcharges are the processing fees that merchants pass to their customers when they use credit cards to purchase goods or services.

Best Practices 52

Best Practices Credit Cards Compliance Debit Card 52

Stax

FEBRUARY 19, 2025

Compliance and data privacy risks Payment processing involves handling sensitive customer information, making compliance with security standards such as PCI DSS (Payment Card Industry Data Security Standard) essential. How to avoid unexpected expenses: Before signing an agreement, request a detailed breakdown of all potential fees.

Payments 88

Payments PCI DSS Compliance Risk 88

EBizCharge

AUGUST 30, 2024

Similarly, the size of your business and the volume of credit card transactions you process can influence merchant service providers to offer volume discounts or more favorable terms, lowering overall processing costs. However, there are ways they can avoid some of those costs.

Credit Cards 52

Credit Cards Processors Process Card Issuer 52

EBizCharge

MAY 2, 2024

When customers pay with their credit cards, surcharging applies an additional fee that covers the specific cost associated with that transaction type. The surcharge cannot exceed the payment processing cost or legal limits set by state laws. This might mean slightly higher prices, with the processing costs factored in.

Credit Cards 52

Credit Cards Process Processors Legal 52

Stax

NOVEMBER 8, 2023

Your business still has to incur all processing costs when a customer pays by debit card. The latter is simply another solution that some merchants use to lower their card processing costs. In this method, a certain discount (equivalent to the cost of card processing) is applied at checkout if a customer pays by cash.

Process 88

Process Credit Cards Debit Card Processors 88

Stax

AUGUST 1, 2024

charge interchange fees which, on top of other credit card processing fees, can eat away at your profits. As such, credit card surcharging can be beneficial for offsetting these costs. With it, merchants can transfer the processing costs to customers who choose to make credit card payments.

Rules 88

Rules Credit Cards Caps Processors 88

Stax

DECEMBER 6, 2024

Q: What are the payment processing costs and other fees associated with Worldpay by FIS? Worldpay does not publicly disclose its fees. However, according to research from Verisave, the rates are as follows: Signature debit cards: 0.99% + $0.20 Standard credit cards: 1.99% + $0.20 Rewards credit cards: 2.60% + $0.20

Payment APIs and Integration 88

Payment APIs and Integration Payment Gateways Credit Cards Fraud Prevention 88

PYMNTS

DECEMBER 8, 2016

“There is certainly a legal and economic ramification to noncompliance in certain countries,” he said, adding that, again, these penalties range from country to country. Coca-Cola’s compliance with Brazil eInvoicing mandates, for instance, led to 70 percent savings on processing costs, researchers found.

Compliance 64

Compliance Regulations Governance Government 64

Nanonets

MARCH 30, 2023

IDP solutions are at least 95% accurate, and can eliminate costly and serious errors associated with manual document processing. Cost Savings By automating repetitive and time-consuming tasks, IDP can significantly reduce labor costs.

Process 52

Process Automation Compliance Volume 52

PYMNTS

FEBRUARY 14, 2020

They can ensure students have access to faster and more convenient digital options in addition to checks, for example, cutting down on processing costs and payment delays. Checks will likely remain part of student disbursements for a while — at least until schools are able to make upgrades that would ease their cost and time burdens.

Checks 52

Checks Debit Card ACH Regulations 52

Seon

MAY 16, 2024

Operators may even face legal complications if found negligent in identifying and addressing fraudulent activities. Regulatory & Legal Implications As a highly regulated industry, operators must adhere to strict standards to maintain their licenses. From the perspective of players, the ramifications are equally critical.

Fraud Prevention 52

Fraud Prevention Accounts Verification Legal 52

Stax

MARCH 14, 2024

Getting cheaper rent is obvious, but modern technology has given us more options to reduce costs. Maximize Profit by Lowering Credit Card Processing Costs Credit card processing fees can become very expensive for SMBs. These are the fees your business pays to process non-cash payments and they can add up fast.

CRM 68

CRM Credit Cards On-Demand Product 68

PYMNTS

APRIL 12, 2016

Making sure the books add up properly is key to keeping their legal nonprofit status, and that means cash management is paramount. But, according to Vendor Centric, “the benefits of accepting virtual card payments outweigh the costs.”. Nonprofits can face greater pressure than their for-profit peers when it comes to compliance.

Commercial Card 40

Commercial Card Credit Cards Reconciliation Payments Tools 40

Basis Theory

OCTOBER 1, 2024

Return to Top Risk of Non-Compliance Each PCI requirement acts as a proactive measure to protect cardholder data, and as a legal framework to isolate and financially penalize non-compliance. This can significantly increase the cost of your compliance for years to come. Typically, these fines range from around $5,000 to $100,000.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Stax

NOVEMBER 11, 2024

When you’re selling products or services that cost thousands of dollars, you end up paying hundreds of dollars in credit card fees. Using ACH payments reduces your processing costs to a fraction of what you’d typically pay when a client uses a credit card. This also makes ACH payments ideal for high-value transactions.

ACH 88

ACH Checks Identity Theft Payments 88

EBizCharge

JUNE 26, 2024

This accounting approach includes various manufacturing costing methods tailored to production processes, such as activity-based, standard, and process costing. Manufacturing accounting is crucial to maintaining inventory valuation, aiding the production cost analysis, and facilitating informed decision-making.

Accounts 52

Accounts Product Best Practices Process 52

Nanonets

JUNE 14, 2024

This makes it a legally binding contract. Multiple levels of approval, unclear approval hierarchies, and delayed responses can slow down the procurement process, affecting overall productivity and operational efficiency. Efficiency Gains : Streamline approval and invoice processing workflows to speed up the procurement process.

P2P 52

P2P Process Automation Checks 52