For a small business owner, the best time to spend money on new equipment can feel like…never. These things can be costly, and it can be hard to know what’s worth it. For many business owners, though, one of the best equipment decisions that you can make is the decision to invest in new POS equipment. Though this decision can be hard, we can help you figure out whether you need a new POS.
There are some major payment issues that many businesses experience with their POS systems. These can include cards getting declined for no apparent reason, payment processing taking an excessively long time, screens freezing, and receipts taking too long to print. These kinds of issues can make the payment experience painful for customers and employees alike, slow down lines, and get in the way of your business. If you are dealing with any of these payment issues, you may want to consider upgrading your POS.
If you are concerned about security, you may want to upgrade your POS. Older systems, which extend beyond POS tech, can be broken into, and have fewer safeguards for sensitive information. Newer systems, including those that accept EMV technology, significantly increase security, as well as other safeguards. Improving security is a great reason to upgrade your POS.
New POS software makes it possible to maintain customer information and use it to provide special promotional deals to customers. This is a great way to get customers coming back in. It also makes it possible for you to accept a wider variety of payments, such as NFC and mobile wallet payments, that are becoming more and more popular with buyers of all demographics. If you want to add to your customer appeal, then you may want to upgrade your POS.
Upgrading your POS isn’t as hard as you think. In fact, it is not nearly as expensive as you would think either, and the costs of upgrading can be offset by one instance of fraud, or by the increase in revenue from improving your customer satisfaction and options. You may want to start by talking to your payment processor about what kind of options they provide. At Moolah, we provide new customers with the Poynt Smart Terminal FREE of charge. It’s a wireless POS that streamlines the payment process and provides a variety of payment options to customers. With the Poynt Smart Terminal, you can accept NFC touchless payments, EMV chip cards, and any major credit and debit card. You also have a range of software options that can improve your experience and help you offer more to customers. It’s all part of Moolah’s commitment to small businesses and the future of payments.
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.