Credit Card Processing, Legal

Contract = Good, Termination Fee = Bad

A contract does not equate to a cancellation fee and having a contract term end is not really a good thing.

TwitterFacebookLinkedIn

All merchant accounts have a contract and a term; some merchant account contracts do not have an early termination fee.

Read the full article

Credit Card Processing, Legal

Charging Customers a Credit Card Fee at Check Out

It’s also important to note that credit card convenience fees are different than credit card surcharges. Surcharges are when you charge a fee to customers for using a credit card. Convenience fees are when you charge a fee to customers for the convenience of paying outside of your usual channel (for example, paying over the…

TwitterFacebookLinkedIn

In some cases, your business can charge customers a convenience fee for using a credit card, but there’s a maze of rules, exceptions and even state laws to navigate to ensure you stay compliant with the terms of your merchant processing agreement.

Read the full article

Credit Card Processing, Legal

Minimum Charge for Credit Card Purchase

The short answer is: Sometimes. The longer answer is that it depends on the type of card. You’ll have to follow applicable rules as well. Credit cards: Yes. It is acceptable for you to set a minimum charge on credit card purchases¬†as long as you abide by the stipulations as set forth in your processing…

TwitterFacebookLinkedIn

Many businesses wonder: Is it legal to require a minimum purchase amount for card transactions?

Read the full article