Payments matter, especially because they are a simple, easy-to-control aspect of your business that can lead to a range of improvements and growth. That’s right, we said growth! Here are a few ways how.
Your customers are ready to buy. That’s why they’re in your store. With mobile payment acceptance, you can free your staff from the counter and enable them to meet customers right where they are. Maybe you run a spice shop and you see that your customer is hesitating over two different spices. With a mobile payment-optimized system like the Poynt Terminal, the shop clerk can meet the customer right where they are, give insights, and potentially even provide complementary products they might be interested in, all in a more informal environment, that offers big growth potential.
Marketing can have a negative connotation, and it may just be for the annoyance that is caused when a marketing campaign doesn’t match up with what a customer is actually interested in. This is becoming a thing of the past as the ability to collect data on our customer’s habits becomes streamlined. With a sleek POS like the Poynt terminal, it can be far less intimidating for a customer to enter their email or mobile number, especially if they know the store. Now, those regulars can get a message when a product they love is on sale. This kind of targeted marketing is cheaper, way less annoying, and much more likely to move the needle.
Getting a new customer is, by one estimate, seven times more expensive as it is to keep an existing customer coming back. Leveraging technology to keep people connected to your business and your products is a smart way of getting the job done. And by using mobile payment technology to keep the interactions simple and relevant, you’ll be eliminating the barriers that can sometimes hamper the adoption of loyalty programs.
When you think of branding, it’s likely that you think of logo, color choice, website, and other high-impact visual aspects of your brand. While these are certainly important for making a strong first impression, they are by no means the most important part of your brand, especially when we think in the long term. Customers are likely going to most remember the interactions they had with the merchant. The biggest factor there is the warmth of the interaction. (That’s why training is so important!) But your point of sale can factor into the impression, too. Old, slow tech won’t be helping you put your best foot forward.
You don’t have to pay an agency big bucks to make your small business memorable. Start off by taking ownership of the things you can control. A great payment experience, such as can be had from a Poynt terminal, does well to make your brand look good. It could be that a lasting and memorable experience with your brand starts there.
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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.