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Because the credit card processing industry is so confusing, many companies are being taken advantage of because they don't fully understand why they are being charged the fees they are. By simply looking at a merchant statement, we can see the complexities and confusion that exists within the industry. When considering implementing a credit card surcharging policy, it is important to understand the rules that need to be followed, the risks that exist and the pros and cons of doing so. This training on credit card surcharging will discuss the guidelines on how a company can legally surcharge a customer for paying with a credit card, as well as explain some of
the risks that go with it. It will also cover other techniques to help a company reduce and eliminate many of its credit card processing fees.
Key Learning Objectives
- History of the Credit Card Processing Industry
- Why Companies Do/Do Not Surcharge
- What you need to know in order to surcharge
- Risks associated with credit card surcharging
- Alternative ways to eliminate/minimize credit card processing fees
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Jeremy Layton
Jeremy started Verisave back in 2001 with the service of identifying and collecting overpayments made by their customers to their suppliers. In 2009 Jeremy noticed that most of his customers were paying a lot of money to process credit card payments. Over the past 8 years Jeremy has become an expert in how to reduce a company's credit card processing fees. In fact, last year alone Verisave saved its customers over $5.3 million on their credit card processing fees.
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