‘Tis definitely the season.
Odds are, if your store sells things, you’ve been battening down the hatches in preparation for the beginning of holiday shopping season for some weeks. So many stores depend on the end-of-year boost that the gift giving season gives. Likewise, each holiday season has the potential to bring bigger growth, if you’re able to capitalize on the opportunity. Which brings us to the point: how can you ensure that you don’t go insane in the time leading up to Christmas, and actually turn the season into a windfall for your company? Accepting credit cards for your small business is just the beginning. Let’s take a look at what matters.
The truth of the matter is, if you’re not conducting some type of promotion for Black Friday, Cyber Monday, and the Holiday shopping season generally, you may be losing out to your competitors who are. Promotions have become so pervasive and culturally ingrained, your potential customers may be let down if they don’t find it. Doing promotions right takes planning and effort, though. Especially for online shopping, using your social media to get the word out is pretty important to the success of your promotion, as is incorporating promotional codes to streamline things.
You don’t need to be Amazon to benefit from seasonal employees. Small and medium-sized warehouses can easily become overwhelmed by the influx of orders, and during the high points of holiday shopping, the stakes are high for completing your customers’ order in a timely manner. The better prepared you are, and the more hands on deck you have, the easier it will be to avoid those costly negative reviews.
Moolah partners directly with Authorize.Net for payment processing for our merchant accounts. As a result, you’re not just accepting credit cards for your small business, you get to benefit from the security and power of Authorize.Net. On the ground, this means you can accept more payment types. You can even set up Visa Checkout, allowing your customers to pay easily online with a single sign in. With a consumer base increasingly used to options, you don’t want to be the merchant that’s putting up obstacles between your customer and your products.
Possibly the most important piece of advice for staying successful is to never forget what time of year it is. With a little creativity, you can find endless ways to go above and beyond the basics of customer service. Include a personalized note with a candy cane in their shipment. Treat people as humanely as possible when dealing with their complaints. By being there for them, you can win over a long-time customer—and more importantly, make your corner of the world a better place.
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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.