Although I work in the payment industry, I too am a consumer of goods and services like everyone else. Since I work in the payments industry, I notice things that the average consumer may not notice.
I am beginning to notice is many businesses have not adapted to the new Visa Rules when a fee is added to a card transaction.
In April 2023, Visa made changes to their compliant Surcharging regulations. Non complaint programs using the non-cash adjustment, service fee or some other line-item fee on the credit card receipt will be considered non- compliant Surcharging and may cause a business to be subject to fines by Visa and Mastercard.
If your business charges a cardholder a fee to use a credit card or debit card and your terminal receipts show a fee you may not be compliant with the new rules. Visa is being very aggressive in seeking out businesses that are not in compliant and assessing penalties. This is being accomplished with secret shopper programs and consumer complaints. If your current company has not updated your terminal or your Point of Sale to adhere to the new rules, you should give us a call so we can help you become and stay in are in compliance.
At First Coast Payments we are here to help you should you have questions this post or anything related to Point-of-Sale systems or credit card processing solutions. Give us a call at 904-638-8804
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