As most merchants have discovered, part of their success often requires managing the fees that accumulate as a result of accepting debit and credit cards. Companies large and small now recognize this as an additional cost of doing business. As of 2013, merchants are now allowed to impose a surcharge on customers paying with a credit card. However, surcharges are still not permitted in ten states and prohibited in all states on pin and signature debit transactions.
Deft Payment Systems can assist retailers in setting up a Surcharge Merchant Account if they choose to build a fee into the cost of a purchase made with a credit card. Applying convenience charges is another option to recoup costs for some businesses. These can be passed off to customers only on services that are non-standard to those the merchant typically provides, such as online sales or bill payments. Still other merchants may opt to offer discounts or incentives for cash payments. One thing is for sure, with so many rules surrounding both surcharges and convenience fees, Deft can help merchants find out what is right for their business. We are adept at providing Surcharge Merchant Services and here to help you every step of the way.
