Thinking about starting a business? Or maybe you already run your own company, but need better information about customer and market trends. Looking for information about the best mobile POS system? You could hire a consulting firm or buy a subscription to proprietary data. But if you are a small business owner, these pathways often prove prohibitively expensive. Fortunately, the aspiring entrepreneur has access to a wealth of free statistical resources online that will help you identify potential customers, locate employee pools, and help you figure out how much it will cost to run your business.
If you want detailed data about population demographics, the American Factfinder, offered by the United States Census Bureau is a great place to start. In addition to the once every ten-year Census, the Bureau conducts detailed yearly surveys known as the American Community Survey. The American Factfinder tool allows queries by geographic location and provides a wealth of recent and historical demographic data including population density, age, sex, occupation by industry, household size and income and much more. How many women earning at least $100,000 a year live in your county? Or what does the average household look like in Rhode Island? If you want to know about a particular customer pool in a particular location, American Factfinder offers answers.
In addition to where your potential customer pool might reside, you probably also want to know about recent spending patterns. The Bureau of Economic Analysis tracks personal income and consumer spending. The agency generally posts data currently within two months, offering relatively up to date information about the health of consumer markets and potential insight into future spending. Additionally, The Consumer Price Index tracks the average costs of goods over time, giving you an idea of current prices.
High turnover severely impairs business operations and endangers the survival of your operation. Especially early on, things can be chaotic as employees learn their roles and you refine the work-flow. Recruiting and retaining competent employees is critical to success. The Bureau of Labor Statistics publishes detailed data about average pay across sectors and by time base.
You will also need to know what it will cost to finance your business. Find current interest rates online.
In addition to this external data, maintaining the best mobile POS system means that you’re able to collect information over time from transactions in your store. Leveraging this info enables you to make informed decisions as your business continues to grow. The intrepid researcher faces no dearth of data. Instead, the biggest challenge might be sifting through a sea of statistics to locate the information most relevant to your enterprise. Nevertheless, a little persistence will bring crucial insights that will position your business for sustained growth.
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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.