To Surcharge, the merchant adds a fee to the customer’s bill when paying by credit card. If you are surcharging customers, then specific standards must be followed to stay compliant. Some of these include:

• Not surcharging transactions when paying with a debit card.
• Surcharge amount cannot exceed 3% for transactions and the surcharge amount must be displayed at the business entrance.
• Display the surcharge amount on the receipt and at the point of sale that a surcharge is assessed on credit card purchases.

Read this blog to learn more.

Merchant Services are financial tools and systems that allow businesses to accept and process customer payments, including credit cards, debit cards, and other electronic payment methods.

VeraBank processes all major credit cards, debit cards, and electronic checks. With VeraBank’s Merchant Services, you can perform credit and debit card transactions right from your smartphone, tablet, office, back room, car, countertop, etc. 

By enabling your business to securely process credit card, debit card, and electronic payments, Merchant Services help streamline your operations and improve cashflow. Plus, by offering these convenient payment methods, you provide your customers with more options for completing transactions with you.

Credit cards are increasingly becoming the preferred payment method for consumers, but more people paying with plastic means increased card payment processing costs for business owners. For a healthier bottom line, many merchants are turning to merchant processing discount programs that include cash discounting and surcharging to help offset those fees.

Read this blog to learn more.