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Compliance
Compliance
Is Cash Discounting & Surcharging Legal?
The Payment Card Interchange Fee & Merchant Discount Antitrust Litigation as well as the passing of laws such as The Dodd Frank Wall Street Reform, The Consumer Protection Act, and The Durbin Amendment have given the power to merchants in all 50 states to implement Cash Discount programs in their brick and mortar locations as well as their online locations. Cash Discounting is now accepted nationwide.
Surcharging is rapidly gaining approval throughout the United States. Originally there were a total of 10 states that banned surcharging, but now there are only 4. As of 2020, Colorado, Connecticut, Kansas, and Massachusetts are the only states that still do not allow merchants to apply surcharging fees. Previously, states such as Texas and New York banned surcharging, but the states found in favor of the merchants taking their side in the battle against credit card processing fees. In January 2019 the state of New York overturned the ban on surcharging.
Businesses that sign up with us see an immediate increase in profit as a result of the savings from eliminating their processing bill. These savings are being used to cover payroll increases as a result of minimum wage hikes, rent and utility increases, increases in cost of merchandise, and much more.
WeProcess Is
100% Compliant!
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Merchant MUST display signage at the following:
- Merchant’s point of entry (in-store & online)
- Point of transaction (payment location & check out page)
- Charge to customer cannot exceed 4% and cannot be called a “Fee”
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Non-Cash Charge must be shown:
- Separately on the front of the receipt
- In same font & size as other wording on the transaction receipt
