You may be wondering whether your business can benefit from adopting a mobile point of sale solution. The truth is that almost every business stands to gain from the added functionalities of smart POS units and the best mobile POS systems out there.
The Benefit: don’t turn away payments!
There are a blossoming number of local juice spots, who pride themselves on being hip and fresh. At the moment, cards are the most popular form of payment, but other payment types like near-field communication (NFC) are gaining traction, to the point that some customers may begin to rely on them to the exclusion of other payment types. At hip, modern juice bars, you need to stay relevant to your younger clientele and the payments they prefer, which is why it’s important to get a mobile POS that can do it all.
The Benefit: more ways to order!
Newer fast-casual food establishments offer local, higher quality fare that cater to a range of eaters, from couples on a date who want to linger in a hip environment, to those ordering food to go from their phone and picking it up ASAP. Having a robust and flexible payment system and order tracking system is an absolute requirement for keeping up. Poynt is such a system, offering a range of apps to fill these complex needs.
The Benefit: Better Inventory Management!
No matter what you offer, from glass beads, to fine wines, to classic motorcycle parts, if you have a niche shop, or just have a complicated inventory, you need to keep track of it all with a mobile-based inventory tracking solution. Gone are the days when need to come in early to count inventory. With an app doing the heavy lifting, inventory is updated in real time, and you can even receive reminders when it’s time to reorder. That means you save hours every week, and you don’t lose sales from being out of stock!
The Benefit: Manage multiple locations better!
For regional hardware stores, with managers overseeing several locations, the best mobile POS system can save you a lot of time driving around and making check-up phone calls. See location-specific sales comparisons, making it easier to hone your promotion game through A / B testing new promotions at different stores. The level of accuracy and real-time data allows managers to make better managing decisions.
The Benefit: Mobility!
Yes, with a mobile POS, you can truly take your store mobile, which is essential for boutiques that depend on the big boost in sales that come from conventions, farmer’s markets, or trade shows. Best of all, with the right technology, your inventory is synched in real time, so you can return to normal operations with insight and confidence that you didn’t miss a beat.
It’s good to keep in mind that many of these examples apply to tons of small businesses that weren’t mentioned here. Also true is that there are a lot of benefits besides these. Going with a mobile POS like Poynt will allow you to dig in and see the wealth of benefits these potent tools can bring you.
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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.