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Credit Card Surcharge Guidance: A State-by-State Overview of Surcharging Laws

Stax

Some nationwide rules that apply to surcharging are: the surcharge rate is capped at 4% (3% for Visa) of the total transaction, businesses mustn’t use surcharging to earn a profit, surcharging doesn’t apply to debit cards, customers need to be informed of the program, and the surcharge has to be listed clearly in the receipt.

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Wells Fargo Seeks Bidders For Private-Label Credit Card Unit

PYMNTS

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Others are operating in a less constrained way.”. Shrewsberry recently stepped down as CFO of Wells Fargo, a move that was announced in July.

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Alt Lending Apps Show Staying Power In New Rankings

PYMNTS

Point-of-sale (POS) lending.” 6 we find Quadpay , another interest-free POS lender, with growing Sezzle at No. 9, and Australia’s Laybuy capping this Provider Ranking of Alternative Credit Apps at No. It goes by many names. Instant credit.” Grabbing the No.

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Key Differences of Payments for Small Businesses vs. Enterprises

Clearly Payments

Enterprises: Utilize integrated point-of-sale (POS) systems that connect with inventory, customer data, and analytics tools. to 4% per sale, which adds up significantly over time. Some states have pushed for regulatory action to cap these fees or introduce surcharge transparency requirements. In the U.S.,

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What You Should Know About Visa Surcharge Rules in 2024: A Guide for Merchants

Stax

Visa’s surcharge rules around disclosure, compliance, options (brand-level/product-level), notifying acquirers, surcharge cap, etc. In essence, customers need to be fully aware that a credit card surcharge will be applied when they checkout at a point of sale (POS). Earlier, the surcharge cap used to be 4%.

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Mastercard Buys POS Financing Provider Vyze

PYMNTS

Point-of-sale (POS) financing stands as a $1.8 In more recent news, Affirm has partnered with Walmart to help finance purchases over $150 and capped at $2,000 — a pact admittedly not focused just on millennials , but on a broad swathe of consumers. trillion opportunity, the company said, citing a figure from Accenture.

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US Debit Card Usage Soars as Consumers Embrace Convenient Payments

The Fintech Times

point-of-sale (POS) transactions, two account-to-account transfers, and 1.9 Notably, POS usage grew at an annual rate of 4.4 Commissioned by Discover® Financial Services’ PULSE debit network and conducted by Banking & Payments Group , the study gauged insights from large banks, credit unions and community banks.