Category: Credit Card Surcharges
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Credit Card Surcharge Laws by State (as of Sept 2024)
Credit card surcharges are an additional charge that businesses can impose when customers choose to pay with a credit card instead of cash or debit. This fee helps merchants offset the costs they incur for processing credit card transactions. While surcharging has been a hot topic in recent years, Visa is now taking a firm…
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Visa Mastercard Agree on $30b Settlement – What It Means for Online Merchants
CREDIT CARD PAYMENTS, CREDIT CARD PROCESSING, Credit Card Processing Fees, Credit Card Surcharges, MasterCard, PAYMENT PROCESSING, VISAIn a landmark move that could reshape the landscape of credit card processing, Visa and Mastercard have reached a staggering $30 billion settlement with merchants across the United States. This settlement aims to address long-standing concerns over the exorbitant credit and debit card fees that have burdened retailers, particularly small businesses, for decades. For online…
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Why Credit Card Processing Fees Are So High and How To Lower Them
CREDIT CARD PROCESSING, Credit Card Processing Fees, Credit Card Surcharges, Merchant Account Fees, MERCHANT PRICING, MERCHANT SERVICES, PAYMENT PROCESSING, PAYMENTSAre you shocked by how much your credit card processor charges each month? You’re not alone. Credit card processing fees have become a big business, with companies charging upwards of 3% of each transaction. While it may seem like you’re getting ripped off, there are ways to negotiate these fees and bring them down. In…
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Credit Card Surcharges: Are They Legal?
Today’s credit card holders are treated like royalty. While some card issuers have their hands in the till by charging high interest rates, some merchants also take advantage of customers by adding exorbitant fees to their purchases. For example, retailers might charge a convenience fee or a premium pricing fee to cover the costs of…
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Should You Pass Off Credit Card Surcharges to Customers?
It’s no secret that credit card processing fees are expensive, but what about taking a processor’s fees add it as a surcharge fee to your transaction? In this article, we’ll talk about whether you can pass on these costs to customers and what the consequences might be if you do. Fees are typically 2-3% of…
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