What is a Surcharge Program?
With a surcharge program, merchants charge an additional fee on credit card transactions, which allows the merchant to offset their processing fees associated with accepting credit cards for goods and services.
How Can I Reduce My Expenses?
The Merchant Surcharge Program allows merchants to add a percentage fee, typically 3.85% – 4%, on all credit card transactions to help cover the merchant’s credit card processing costs. Implementing this practice helps merchants reduce their operating expenses by passing along the fees to their customers. All fees associated with the Surcharge Program are itemized on a customer’s credit card receipt. Debit cards and prepaid cards are not eligible. Only credit card transactions can participate in this program.
Is This Right for My Business?
Merchant surcharge programs are an excellent way to reduce expenses, especially if you rely heavily on credit card transactions. However, not all business are created equal and you should carefully research whether a surcharge program is right for your business.
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