Getting paid is one of the continual trials of the small business. Moolah is of the opinion that the best credit card processing company should work to make it faster and easier to get paid, not more difficult. With faster funding options and a range of features that streamline your payment infrastructure, payday can come sooner with Moolah.
A typical draw back that is called out on some of the Moolah reviews you’ll read on review sites is that it takes longer to get set up with us. While this is true, there’s a good reason behind it. With Moolah, you’re getting more, in the form of a dedicated merchant account. This is your personal account, and we view it as one small part of the overall process of getting to know you. The approach lies in stark contrast to the approach of some of the “aggregators” such as Square and Stripe, which lump your transactions together with those of other merchants. This style of processing does two things: first, it adds delays. Typically, 3-5 days is a standard processing time to expect. Second, the lumping together of all those diverse payments means that the aggregator company exposes itself to extra risk of a fraudulent transaction. Aggregators typically offset this increased risk through increasing fees. A slightly longer application process is a simple trade-off for enjoying the benefits of lower fees, and faster deposits.
When you’ve got consistent capital, your daily operations run more easily. When your payment processor holds the keys to your funds, especially at the wrong time of the month, it can make serious headaches. Inventory, payroll, rent, and more are payments that can’t wait. Particularly, when you are a newer business, unexpected necessities can pop up, and you need the cash flow to be able to take care of these things. All of these reasons point to going with the processor who can keep payments flowing.
Have you ever thought of your payment processor as an annoyance—or a necessary evil? It doesn’t have to be that way. The best credit card processing company can be a help to the growth of your business, not a hindrance. Moolah offers 1 and 2-day processing, meaning you can expect your funds in your account in as little as 24 hours. That regularity enhances your ability to predict your cash flow, and ensures that you’ll be able to make necessary payments. For online payments, you can take advantage of the way Moolah and authorize.Net can help you stay on top of payments. Set up Automated Recurring Billing, and you will be less likely to have to wait for payments to come in. There are even solutions for invoicing, allowing you to easily integrate a payment button with your electronic invoice.
With Moolah, you’ll be tearing down the little barriers that get between you and your customer’s payment, and ensuring that payments are part of your business’s success.
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.