A surcharge is a fee that is added to a card transaction, either as a set amount or a percentage of a transaction. Typically, used to cover the cost of the merchant service charge.
There are rules, exceptions and state laws to observe to ensure you are compliant.
At present there are surcharge bans in the following states:
California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas. (Appeals are pending for California and Florida)
Surcharge Rules:
Applicable only to credit card transactions, not debit or prepaid card transactions.
The surcharge cannot be greater than the merchant’s average discount rate for that brand’s credit card transactions.
Maximum surcharge allowed is 4%.
Cardholder must be notified of the surcharge.
Surcharge must be listed on the receipt as a line item and the primary payment amount must be processed together as one transaction.
A convenience feeis a fee charged for the “convenience”of being able to pay using an alternative payment channel outside the merchant’s customary payment channel.
Any merchant can charge a convenience fee IF the fee charged is for the legitimate convenience of being able to pay using a different payment channel than the merchant’s usual payment channel.
Example: Your business customary payment channel is face-to-face or card present and you provide an alternative payment channel, such as the option to pay by phone using a credit card, that could then charge a convenience fee along with the payment.
Mail Order/Telephone Order (MOTO) merchants and ecommerce merchants, whose customary payment channel is exclusively non face-to-face or card-not-present, are NOT permitted to charge convenience fees.
Convenience Fee Rules:
Customer must be notified of the convenience fee prior to finalizing payment and given the opportunity to cancel.
Payment must take place through an alternative payment channel.
The fee can only be added to a non face-to-face transaction. Must be flat or fixed, regardless of the value of the payment due.
The fee must be applied to all means of payment accepted through the alternative payment channel. Must be included in the total transaction amount.
Learn more about the full range of payment capabilities offered by Converge, an omni-commerce platform that lets you accept payments your way. Online, In-Store and On the Go!
Accept a full range of payment methods:
Credit Cards
Debit Cards
Electronic Checks
Gift Cards
Electronic Benefit Transfer (EBT)
Cash
Advanced features also include:
Available enhanced security features, including EMV, encryption and tokenization
Detailed reporting with up to 12 months of data storage
Customizable payment screens
User permission management for up to 5,000 users
National Transaction Corporation accept payments wherever you are with security while having a peace of mind for you and your customers. Furthermore, flexible solutions that empower your business growth in addition to world class support for complex integrations and answers to your toughest questions. Let our payment specialist find the right solution for your electronic payment needs. We offer transparent pricing and services that work with your existing technology to provide a low cost automated billing and collection solution.
Call now at 888-996-2273 and get a FREE Rate Review!
Let’s talk about your money, and how to make more of it. Today money is taking on a new form. It’s digital, it’s electronic and it’s everywhere and anywhere 24/7/365.
Payment acceptance is key to making more money. You don’t make more money by not accepting a transaction, and making the experience convenient and safe to your customer can bring loyalty.
Let’s break down a transaction.
Cash, but that would mean that the customer has to be in front of you. You could take checks, those are safe to mail, but then you don’t have your money until you drive to the bank and cash or deposit the check.
So how do we easily and securely transfer funds for a transaction? The answer lies in digital or electronic payments. Accepting credit cards, debit cards, ebt cards or even gift & loyalty cards and electronic checks. These provide secure and convenient ways to complete transactions for your customers. If you want to make more money, make it easy for customers to spend it while making it faster for you to receive it. That’s where a merchant account comes in.
A merchant account allows you to deposit funds directly into your bank account in as little as a few hours. Whether the customer swipes their card into your smartphone, calls it in over the phone or keys it into your web site, just having a merchant account can be a huge advantage over competitors.
It allows you to conduct transactions in more ways than cash or checks alone. Transactions are recorded automatically and can easily be reconciled for both customer and merchant. Most importantly it widens the opportunities to conduct sales to the widest customer audience possible.
No matter what you sell or how you sell it, the sale is only complete once the funds are transferred from one party to the other.
It’s important to recognize your missed opportunities. Could accepting electronic payments help increase your revenue stream? We’re here to help you make more money, let us show you the many ways we can do just that. Let’s talk, 888-996-CARD (2273)
To be responsive to the needs of our merchants and to meet that needs, NTC offers next day funding in addition to the value added service for customers and businesses that need to have their funds available quickly.
National Transaction also offers a variety of electronic payment services and technology for businesses; with more than 15 years of experience.
Our services include:
Currency Conversion
Credit and debit card processing
E-commerce and gateways
Electronic checks
Gift and loyalty card programs
Mobile processing
Cash advances and loans/funding program
NTC e-Pay and MediPaid
NTC e-Pay – is an Electronic Invoicing that made simple with NTC e-Pay!
Free Setup, nothing to Integrate, Secure, and Fast. Invoice customers Electronically with NTC e-Pay. In addition, our e-Pay Platform can help Travel Merchants bring new customers while encouraging repeat business.
Our Virtual Merchant Gateway – accept payments your way! Online, In-Store and On the Go. Another payment platform that flexes with your business.
NTC Business Loans – Fast yet Affordable and most of all Simple Application Process.
MediPaid – another medical health insurance claims payment. Delivering paperless and next-day deposits for Health Insurance Payments.
Furthermore, NTC provides services to thousands of customers. NTC maintains a one on one relationships with all its merchants consequently providing 24/7 customer service and technical support!
To know more about our product and services call us now! 888-996-2273
To be responsive to the needs of our merchants and to meet that needs NTC offers next day funding. This is a value added service for customers and businesses that need to have their funds available quickly.
With more than 15 years of experience, National Transaction offers a variety of electronic payment services and technology for businesses.
Our services include:
Currency Conversion, credit, and debit card processing, e-commerce and gateways, electronic checks, gift and loyalty card programs, mobile processing, cash advances and loans/funding program. We also have NTC e-Pay and MediPaid.
NTC e-Pay – is an Electronic Invoicing that made simple with NTC e-Pay! Free Setup, Nothing To Integrate, Secure, and Fast. Invoice customers Electronically with NTC e-Pay. Our e-Pay Platform can help Travel Merchants bring new customers and encourage repeat business.
Our Virtual Merchant Gateway – accept payments your way! Online, In-Store and On the Go. A payment platform that flexes with your business.
NTC Business Loans – Fast, Affordable, and Simple Application Process.
MediPaid – a medical health insurance claims payment. Delivering paperless, next-day deposits for Health Insurance Payments.
NTC provides services to thousands of customers. NTC maintains a one on one relationships with all its merchants providing them with 24/7 customer service and technical support!
To know more about our product and services give us a call at 888-9962273
Terminals are ready, but the software isn’t – many merchants have EMV capable equipment, but has not been activated yet because it still needs to be certified.
The certification process includes security and compatibility tests.
For a small merchant, all you need to worry about is your equipment or software is EMV certified.
For software, developers, terminal manufacturers needs to get certification before they can deploy their products to merchants.
So many merchants who want to accept EMV, are now just waiting for their POS system to get necessary upgrades, which they can’t do until they’re certified.
Slower Checkout Time – common complaint by consumers. Dipping takes several seconds longer than swiping the card. There’s also a chance of forgetting your card because you have to leave your card inserted while waiting for the transaction to get approved.
The fastest Path to EMV – Depending on the nature of your business, the risk of landing yourself for credit card fraud is slim. The easiest way is to contact your merchant account provider and they will tell you what equipment and software you need and how much it will cost.
For our retail customers, we have the iCT250, the smart and compact desktop device designed for maximum efficiency. iCT250 offers a smart and effective payment experience on minimum counter space. Accept all electronic payment methods including EMV chip & PIN, magstripe and NFC/contactless.
For card-not-present, we have our payment gateway platform that accepts payments your way Online, In-Store and On the Go.
E-commerce – manage your e-com business along with all of your other payment transactions in one, secure place.
In-Store – accept payments in person with ease using your computer and a broad range of an optional device, like card readers and PIN pads.
Back Office Mail & Phone – Process you mail and phone payments online. Converge is ideal for recurring and installment payments too.
Mobile – Take payments on the go with an intuitive mobile app that’s compatible with most smartphones and tablets.
For more details give us a call at 888-996-2273 or check out our website for our products and services.
Electronic commerce (eCommerce) is a type of business transaction, that involves the transfer of information on the Internet. This allows consumers to exchange goods and services with no barriers of time or distance electronically.
Business-to-Business (B2B) this refers to electronic commerce, between businesses rather than between a business and a consumer. These transactions electronically provide competitive advantages over traditional methods. It’s faster, cheaper and more convenient.
Creating a successful online store can be difficult if you don’t have knowledge of e-commerce and what it is supposed to do for your online business.
What do you need to have an online store?
Shopping cart – an operating system that allows consumers to buy goods and or services. Track customers, and tie together all aspects of e-commerce into one.
Or you can check out our NTC e-Pay no shopping cart Solution.
Taking online payment by getting a merchant account and accept credit cards through an online payment gateway.
You just need to make a better decision in choosing the right shopping cart and a merchant account for your eCommerce shop.
