Remove Card Network Rules Remove Online and Mobile Banking Remove Processing Costs
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Is Zero Cost Credit Card Processing Suitable for Your Small Business?

EBizCharge

These fees are essential for covering the costs of handling, authorizing, and securing card transactions. Assessment fees: Assessment fees are imposed by major credit card networks (Visa, Mastercard, etc.) to cover operating costs and any infrastructure or maintenance needs.

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What Is a Convenience Fee & Should You Charge It?

Payment Savvy

For example, you could add a convenience fee if your standard payment method is cash or check, but a customer wants to pay over the phone or online with a credit card. This fee compensates for these alternative methods’ higher processing costs and potential risks.

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Credit Card Surcharges: What Are They, and How Do They Work?

Stax

This is good news because it means you won’t have to inflate your base prices to cover payment processing fees. That said, you can’t just decide and impose credit card surcharges overnight. It requires stringent adherence to regulatory guidelines and card network rules, from surcharge caps to disclosure requirements.