Accept Credit Cards for 0% for All Merchants
THE RULES HAVE CHANGED
New rules allow merchants to add a fee for the use of credit cards.
Merchants are not permitted to add a fee to debit cards.
Our patent-pending technology ensures regulatory compliance by determining whether a given card is a credit card or a debit card before the transaction is processed. Zero-Cost Credit automatically applies a fee whenever a credit card is swiped or entered so that you receive 100% of the amount of your sale.
Zero-Cost Credit increases consumer fairness.
Credit cards cost more to accept than cash or debit cards. Under the old rules, merchants were not able to add fees for the use of credit cards, so they passed on this cost to all customers.
When all customers bear the cost of credit cards, the average credit card user receives a subsidy of $1,133 each year from customers who choose cash or debit.1
1 Federal Reserve Bank of Boston, “Who Gains and Who Loses from Credit Card Payments?”Public Policy Discussion Paper No. 10-03, 2010.
Compliance is critical. CardX is here to help.
If you are currently adding a percentage for accepting credit cards and are not following the guidelines below you are in violation and can be fined from $5,000 to $10,000 per transaction by the card companies.
| The merchant must be registered withVisa, MasterCard, and Discover. | Our team completes each registration on your behalf. |
| The merchant must inform their customers of the credit card fee with appropriate signage at the store entrance (if applicable) and at the point of sale. | Our team provides you with all necessary signage. |
| The amount of the credit card fee must not exceed the merchant’s cost of acceptance or 4%, whichever is less. | Our team reviews your merchant statement and sets up your account with the right parameters. |
| The credit card fee and the price of the product or service must be processed together as one transaction. | Our solution processes the fee and the purchase amount as one transaction. |
| The receipt must show the amount of the credit card fee as a separate line item. | Our solution produces a receipt that itemizes the fee amount. |
| The merchant must not apply a fee to debit cards. | Our solution automatically detects card type to exclude debit cards. |
We also provide traditional processing with 100% transparency and life time management to ensure your rates never increase.
CONTACT: Rick Goodman | (805) 479-1016 | RickGoodman@ExpenseMS.com | www.ExpenseMS.com
