How can you be sure you’re getting the most from your credit card processor? While the terminal is probably the first thing that most merchants will consider when they begin shopping the market for the best credit card processing company, that’s not really the be-all-end-all of the process. While most visible, there are many other tools that come along with payment processing which can be as crucial for helping businesses to succeed.
What really goes on at your point of sale? The answer is, much more than a transaction. In that one exchange, there is a multitude of information being created and exchanged; in one sense, transactions are a microcosm of your business and should be treated as such. Having a smarter POS system is your key to leveraging all the information transactions generate, resulting in a healthier overall business. New processes can be tough to sign on to for some business owners, primarily because setting them up requires a certain time commitment. For the most part, though, a new POS is easy to get going, and starting with them is typically as involved as getting set up any app. The Poynt smart terminals which Moolah recommends, and which we offer for free to anyone who signs up for a dedicated merchant account with us, have the added benefit of being supremely open. You’re able to load apps on as needed to suit the needs of your business.
Each transaction gives your business information, and one of the most crucial areas for a business to learn about is the customer. Informed business decisions are built upon solid information about the types of people you serve, and the only way to get this information is by ensuring that you take customer relationships seriously. With a good POS, you can find a customer relationship management solution that fits your needs. Ideally, you’ll be able to get some basic info about your customers and match that up with their purchase patterns. The additional benefit is it enables you to improve the individual customer experience by putting purchase history at the fingertips of your sales attendant.
For some businesses, the hurdles presented by their invoicing and recurring payment needs can be an enormous burden. Luckily, the best credit card processing companies open you up to options to make this easier. Providers like Moolah, which make it easy to integrate payments into websites with customer portals, as well as other third-party providers that can supremely streamline invoicing workflows should be considered.
One thing is certain. When you seek out the best credit card processing companies, that really should be just the tip of the iceberg. Companies can do well to use the opportunity that updating credit card services represents to see what other chances for growth arise from the upgrade.
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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.