When most people think of payment fraud they think of the high-profile data breaches that occurred at big retail chains. If you’re a business, however, you’d do well to also take care with the interactions your company has with other businesses, because phishing attacks for B2B payments are on the rise. Phishing attacks from email and online services claimed 26 percent of phishing attacks last year, more even than those directed at financial institutions (21 percent).
Phishing, when someone sends out a ‘lure’ to get sensitive information is so effective because it relies on the weakest point in your organization’s defenses against fraud: people. There is no be-all-end-all solution for these types of attacks, because the nature of phishers is to continually stay on the forefront of attacks, and continually think up new tricks and new attacks. The best safeguard against phishing is to minimize the amount of human effort in your daily operations, and one great way of doing that is to get updated with new payment technology, such as the Poynt terminal, a point of sale device that opens business up to a variety of helpful integrations for all types of tasks, from inventory, to bookkeeping, to B2B payment sending.
If you’ve been constantly updating yourself and your business to the available technologies, it’s likely that you have an integrated payments solution for your business. The tendency toward integrating a wide range of tasks and functions that comprise your business daily operations makes sense, mainly because at the heart of your business is getting paid. It’s when you interact with your customer, it’s when you learn what inventory is leaving your store, and it’s when that money comes in, to be noted and entered into the books. Those who make solutions for integrated payment points of sale, such as the Poynt terminal, know this and have used the rich power of these platforms to create tools that make life easier for business owners.
One such area is in B2B payments. Invoices being sent over email (and snail mail) can open up the possibility for fraudsters and phishers to capitalize on an opportunity. Electronic payments can go further to ensure that phishing doesn’t interrupt your operations. That’s because things get automated and simplified on both ends of the payment, making it less likely that a phisher can find an opening.
In addition to the reduction in fraud, you and your business will be able to enjoy a number of other benefits, including:
Better payment processes can help. Whether with the Poynt terminal or any other integrated payment system, if you want to limit fraud and phishing, stay smart, and make sure your payments stay smart too.
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.