CarmCast 015: Credit Card Surcharges

CarmCast 015

Many states are changing their laws on being able to charge the customer for credit card surcharges.

I’m against it because you’ve already set your selling prices based on your current cost of doing business. Don’t agrivate a customer with an additional charge.

Steve Ciabatonni from 360payments.com shares some of the issues:

• Visa / MasterCard Rules
• State and local laws
• Proper Implementation
• Payment Industry not Regulated
• Customer Opinion

Disclaimer – Statements made here are researched opinion, but you should consult your attorney and trusted payments professional.

Links mentioned on the broadcast:

• Visa: https://usa.visa.com/Forms/merchant-surcharge-notification-form.html
• Mastercard: https://www.mastercard.us/en-us/surcharge-disclosure-webform.html#contentpar_text
• Discover: https://www.discoversurcharge.com/
• American Express: Does not require advance notification