Since last August 2021, the state of Florida has started that business while abiding by the Brands (Visa/MasterCard/Discover/American Express) guidelines, can implement a Surcharing Program to pass credit card fees on to their customers. The problem we have seen, is that most reps in the field and even merchants have NO IDEA how to get legally set up on these programs and WORSE, they don't know what one is which! If you get set up on the wrong program, you can be shut down. There are rules and regulations that have to be followed with each of the following programs.
There are 4 types of Surcharging (Surcharging is the “catch-all” phrase for merchant being set up for the customer to pay the processing fees!
- Convenience
Fees: Applies a fee when a company offers alternative
payment options from a brick and mortar location, such as a website
accepting payments or mail/telephone order solutions. Can Only Apply to
the non-brick and mortar location payment options.
- Service
Fees: Applies a fee to all sales for processing credit and
debit cards on ALL payment connections; website, moto and invoicing etc.
- Surcharge
Fees: Applies a payment card surcharge (also known as a
checkout fee) to ONLY credit cards. NO debit cards are allowed on this
program.
- Non-Cash
Adjustment: Applies a processing fee to ALL sales for both credit
and debit acceptance.
- Cash
Discount: Applies a discount when cash or debit is used for
payment.
Click Here: Understanding Surcharging!
Even better, call Merchant Processing Solutions TODAY and ask us how you can save Money on your merchant services!
