Take a look around your shop (or take a mental glance at your inventory, or the services you offer). Those companies that have been around for the past 10 or 15 years probably won’t be able to mention too many drastic changes to the products or services that stands at the heart of their business. Technological advancements, new products, and new ways of doing things come along, but for the most part, change is gradual.
The same can’t be said for a crucial part of your business, which has experienced, turbulent, meteoric change over the past 15 years: the way you accept payments. As the changes continue, one relatively novel yet seismic shift in tech is the advent and spread of cloud-based technologies, which have had a big effect on payments. The way we pay has changed in quite a few ways, including the hardware we use. Still, the shift away from operating systems and to the cloud have made for an explosion of creative innovation in the areas of data, systems, and apps, with expanded functionalities, and more powerful data crunching abilities becoming attainable for even the smallest of small businesses.
In all the excitement, the point of sale, the physical terminal where payments happen, is now becoming so much more than an updated cash register—cloud technology is progressively transforming it into the brain of your business.
Let’s take a look at what’s happening out there thanks to the cloud.
Not only does a cloud-based POS open businesses and their customers up to a whole world of simplicity when accepting payments. Once your business has a modern mobile POS, like the Poynt terminal, you will be able to do things you simply couldn’t before, like easily start up a loyalty program (and monitor the benefits!), manage inventory smarter, have a working CRM, and much more.
New solutions, in the form of apps, present themselves exponentially faster than before the advent of the cloud. The defining word for these solutions is flexibility, specifically in how these solutions integrate. Does your payroll solution talk to your Inventory solution? Does your CRM talk to the program that offers promotions? We’re asking questions that we simply couldn’t before, and it’s thanks to the flexible integrations that have come to characterize contemporary POS software.
What’s more, data visibility and ease of programming means the possibilities are, if not endless, exponentially expanding, as both businesses and programmers continue to collaborate to make new possibilities and more robust tools for small businesses.
Poynt, one of the most versatile mobile POS systems out there, is the hardware of choice for Moolah precisely because it embraces this culture of collaboration and integration. With a huge array of apps, and new ones being developed and improved upon all the time, it embodies the best of the possibilities that are presented by cloud-based advancements in payments. Where’s your business headed? With the innovations available through a Poynt terminal and Moolah, the answer is further.
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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.