Video: Surcharging has evolved. And it’s worth considering.
Credit card surcharging is when a business charges the customer a percentage-based fee for using a credit card to pay for goods or services.
Even five years ago, surcharging was a risky proposition.
Numerous rules, regulations, local laws, and non-compliance fees made surcharging difficult for many businesses to implement. Not to mention, many customers have been opposed to paying the surcharge.
But things have changed.
Regulations still exist, but public favor has improved, and new technologies exist to make compliance easier than ever.
These technologies can even allow for customer-friendly customizations within the surcharging program, such as fee caps and the ability to exempt certain clients or transactions.
It’s still critical to consult with the experts before implementing a surcharging program. But, now more than ever, surcharging is worth considering.
- A constantly changing industry.
- An evolved surcharging landscape is just one of many recent industry shifts.
The payments industry is constantly evolving, and it can be difficult to stay on top of new developments and updates.
