Merchant Fee Programs

Merchant Fee Programs

Surcharges

A payment card surcharge, also known as a checkout fee, is an additional fee that U.S. merchants can add to a consumer's bill when he or she uses a credit card for payment, which matches the merchant's interchange fees. It is prohibited in 5 states (Surcharges are prohibited in 10 states: Colorado, Connecticut, Kansas, Maine, Massachusetts,  Oklahoma. California, Florida, New York, and Texas) and has a 4% cap (3% for Visa cards). Merchants must notify their credit card companies at least 30 days prior to implementing the surcharge and must disclose the fee to consumers at the at the point of entry (through signage) and at the point of sale (on the receipt).

For more details, please visit https://bizsupport.bizsupport.link/portal/en/kb/articles/surcharges

 

Cash Discounts

Cash discounts are legal in all states and allow you to provide customers with an incentive to pay with cash, debit, or check by offering a discount off the regular sales price at the time of the sale, when those purchase types are made. This allows you as the business owner to offset the fees associated with accepting credit card payments. All customers who do not pay with cash, debit, or check do not receive this discount at the time of the sale. To be compliant with the program, customers must be disclosed about cash discounts at the at the point of entry (through signage) and at the point of sale (on the receipt), and the regular sales price for inventory must be listed at the credit card price. 

For more details, please visit https://bizsupport.bizsupport.link/portal/en/kb/articles/cash-discounts

 

Surcharge Reporting

Info on surcharges will be displayed in the Merchant Fee Programs Report and Z Report.

For more details, please visit https://bizsupport.bizsupport.link/portal/en/kb/articles/merchant-fee-programs-report-18-12-2021

    • Related Articles

    • Cash Discounts

      What are Cash Discounts? The cash discount program provides customers with an incentive to pay with cash, debit card, or check by offering a discount off the regular sales price when they make those purchase types at the time of sale. All customers ...

    • Surcharges

      What is a Surcharge? A payment card surcharge, also known as a checkout fee, is an additional fee that U.S. merchants can add to a consumer's bill when he or she uses a credit card for payment, which matches the merchant's interchange fees. The rate ...

    • Merchant Fee Programs Report

      Overview This report shows information on all surcharges charged during transactions. Instructions To access, go to Reporting--->Merchant Fee Programs Report in the left navigation menu. You can customize which columns you would like displayed in the ...

    • Cash Rounding

      Overview With the Cash Rounding app you can choose to round cash transactions (including sales, refunds, and exchanges) to the nearest 5, 10, 15, or 20 cents and create specific rounding rules, such as to always round up or down. The rounding info is ...

    • Cash Denomination Count

      Requirements Must have Denomination Count app installed in Back Office. To get the app please contact support@retailtime.com Selecting Cash Denominations to Track 1) In Back Office, go to Apps--->Denomination Count in the left navigation menu. 2) ...