With this unprecedented time of struggle for small businesses, it is now more important to accept credit cards than ever. But how do you do it? Here are simple steps to help you streamline your payments.
The first step to accepting credit card payments is choosing a payment processor. There are multiple options here. For many businesses, finding a merchant services provider may be the right option. This is particularly useful if you often process larger transactions. Working with a merchant services provider will allow you to get a merchant account, which can help you attain lower transaction rates. Try to find the best credit card processing company. Look at rates, fees, and value the company provides. Consider things like data security & customer service, which can outweigh the costs of what looks like a good deal.
The next step is to look at the payment processing costs. There are multiple types of costs for payment processing. There are transaction fees, which are fees for specific transactions. These are often a percentage of each sale as well as a flat fee. Some payment processors offer low transaction fees but have other fees that counterbalance these. Next are service fees. These can include monthly account fees and PCI compliance fees. Finally, there are incidental fees. These fees can be charged for specific actions, such as chargebacks, that might take place outside of regular transactions. When deciding to take credit card payments, it is important to be aware of all of the costs, based on the likelihood these incidents will happen in your business.
Make sure to carefully read the contract before signing up with a payment processor. Some payment processors offer certain fee structures but have other hidden fees. Others may require you to keep your account for a certain amount of time. It is important to know what you are getting yourself into.
Before you start accepting credit cards, you need to choose what types of payments you are going to take. Do you need in-store payments as well as online payments? What about mobile payments? Determine what type of payments you are going to take. Then find the appropriate equipment. If you are accepting in-store payments, you will need a point of sale terminal. There are many considerations to make when choosing a card terminal. Does it take EMV chip cards? How about NFC touchless payments? When choosing a terminal, find something that offers everything you need. Sometimes, it pays to invest in something that will last, even if you don’t immediately plan on using all the features.
Once you have signed up with a payment processor and chosen your payment methods, you can start accepting credit cards. At Moolah we do our best to meet our clients’ payment processing needs. We offer a flat rate, no hidden fees, security, and even equipment for processing transactions. At Moolah, we aim to be the best credit card processing company by giving you everything you need for accepting credit card payments in one solution.
Thank you for scheduling. If you have any questions, please contact us at 800-625-1670.
A credit card surcharge is an additional fee added to a transaction when a patient chooses to pay with a credit card. The surcharge is intended to help offset the cost of credit card processing and applies only to eligible credit card transactions.
No. Debit card transactions may not be surcharged under any circumstances, even if the debit card is processed as a credit transaction or entered manually.
Yes. Credit card surcharges may not exceed the merchant’s actual cost of accepting credit cards and are capped at a maximum of 3% of the total transaction amount, in accordance with card-network rules and applicable law.
Yes. Card networks require clear and transparent disclosure of any credit card surcharge. Practices must notify patients through appropriate signage at the practice entrance, point of sale, and anywhere payments are accepted. If payments are accepted online, the surcharge must also be clearly disclosed on the practice’s website.
Yes. Some U.S. states and territories prohibit or restrict credit card surcharging. Practices are responsible for understanding and complying with their state’s specific requirements before implementing a surcharge.
No. While Moolah provides tools and general guidance to support credit card surcharging, compliance with all applicable laws and card-network rules is the responsibility of the merchant. Moolah does not provide legal advice and assumes no liability for a merchant’s compliance.
Most major credit card networks permit surcharging when done in accordance with their rules, but additional requirements or restrictions may apply. Practices should ensure they have completed all required network notifications and disclosures prior to enabling surcharging.
Failure to comply with surcharging rules may result in card-network fines, required refunds, or other enforcement actions. Practices should ensure they fully understand all applicable requirements before applying a surcharge.
Flex does not currently offer built-in support for credit card surcharging. If a practice chooses to enroll in a surcharge plan, payments would need to be processed through Moolah’s payment platform, which is designed to support surcharging and integrates directly with Open Dental.
If you are considering introducing a credit card surcharge for your patients, it is important to understand that there are specific rules and regulations that must be followed when enrolling in and operating under a surcharge plan.
This article provides a general overview of common surcharging requirements. This content is provided for informational purposes only and does not constitute legal advice. It is the responsibility of each merchant to review, understand, and comply with all applicable laws, card-network rules, and regulatory requirements, including notification timeframes, signage requirements, surcharge percentage limits, and jurisdictions where surcharging is prohibited.
If you are unsure about the laws or regulations applicable to your practice, you should consult with qualified legal counsel. Moolah assumes no liability for a merchant’s compliance or non-compliance with credit card surcharging rules or regulations.
Transparent Communication
Card networks, including Visa, Mastercard, Discover, and American Express, require merchants to clearly and transparently disclose when a credit card surcharge is applied.
Practices must clearly notify patients of a credit card surcharge through appropriate signage placed at the practice entrance, at the point of sale or terminal, and anywhere payments are accepted. If payments are accepted online, surcharge disclosures must also be clearly visible on the practice’s website. All disclosures must inform patients that the surcharge applies only to credit card transactions.
Surcharge Limits
Credit card surcharges must comply with both card-network rules and applicable law. The surcharge amount may not exceed the merchant’s actual cost of accepting credit cards and may not exceed 3% of the total transaction amount.
Card-network rules cap credit card surcharges at 3%, meaning that if a merchant’s processing costs exceed this amount, the excess portion cannot be passed on to the patient.
Network and State Restrictions
The major credit card networks, such as Visa and Mastercard, impose specific requirements related to surcharge limits, advance notification, and disclosure.
In addition, several U.S. states and territories regulate or prohibit credit card surcharging. At the time of writing, credit card surcharging is prohibited in Connecticut, Maine, Massachusetts, and Puerto Rico. Other states, including Colorado, Minnesota, Mississippi, New Jersey, and New York, impose restrictions on surcharge amounts or require specific disclosures.
If your practice operates in a state that restricts or prohibits credit card surcharging, you must fully understand and comply with those requirements before implementing a surcharge.
Debit card transactions may never be surcharged, even if the debit card is processed as a credit transaction.
Applicability
Credit card surcharges may be applied only to credit card transactions. Other payment types, including debit cards and alternative payment methods, are not eligible for surcharging.
Regulatory Compliance
Merchants are responsible for maintaining ongoing compliance with all applicable card-network and legal requirements. This includes meeting advance notification obligations, using compliant signage and disclosures, adhering to surcharge percentage limits, and respecting jurisdiction-specific restrictions.
By following these guidelines, dental practices can implement credit card surcharging in a way that aligns with card-network rules and promotes transparency with patients. Clear and upfront communication helps maintain patient trust and supports a positive payment experience.