Surcharging had been historically prohibited in the U.S. per the networks’ merchant rules, as well as prohibited by law in 10 states. Any state laws will continue to “trump” networks’ merchant rules. The recent changes in surcharging law could not only affect your merchant processing transactions but also your customers’ credit card usage.
When suppliers are reaping the rewards, they should not be adding a surcharge. They might overlook the benefits of card acceptance, as well as the cost of other payment methods like checks and cash. This training on credit card interchange fees rules will clearly explain the changes in the rules, which will benefit from the changes and how it will affect the retailers and customers.
WHY SHOULD YOU ATTEND?
The worst thing end-user organizations can do is to have an uninformed reaction to surcharging. It’s important to first look at the big picture. End-users should also educate suppliers about the economics of card acceptance, pointing out the savings possible and other benefits.
AREA COVERED
- History of surcharging
- What changed in the rules?
- Why did it change?
- Who may benefit?
- Sources of information
- Will this change anything?
- What you should do.
LEARNING OBJECTIVES
- Passing on interchange fees has always been against card network regulations
- Companies have found unique ways to get around the regulations or simply did not comply.
- An anti-trust lawsuit finally filed in 2005 and in July 13, 2012 the suit was finally settled.
- Credit card surcharging is prohibited in ten (10) states while another dozen states are considering legislation.
- This training on credit card surcharges compliance will discuss how the recent changes in law will affect end-user organizations.
- It will also provide attendees with the tools necessary to review and deal with any potential surcharge/checkout fee situations.
WHO WILL BENEFIT?
- Corporate accounts receivable managers
- Industries with large credit card receivables
- Multi-state corporations
- Retail organizations
- Financial Officers
- Risk Officers
- Internal Auditors
- Operational Risk Managers
- Credit Card Program Administrators
- Comptrollers
The worst thing end-user organizations can do is to have an uninformed reaction to surcharging. It’s important to first look at the big picture. End-users should also educate suppliers about the economics of card acceptance, pointing out the savings possible and other benefits.
- History of surcharging
- What changed in the rules?
- Why did it change?
- Who may benefit?
- Sources of information
- Will this change anything?
- What you should do.
- Passing on interchange fees has always been against card network regulations
- Companies have found unique ways to get around the regulations or simply did not comply.
- An anti-trust lawsuit finally filed in 2005 and in July 13, 2012 the suit was finally settled.
- Credit card surcharging is prohibited in ten (10) states while another dozen states are considering legislation.
- This training on credit card surcharges compliance will discuss how the recent changes in law will affect end-user organizations.
- It will also provide attendees with the tools necessary to review and deal with any potential surcharge/checkout fee situations.
- Corporate accounts receivable managers
- Industries with large credit card receivables
- Multi-state corporations
- Retail organizations
- Financial Officers
- Risk Officers
- Internal Auditors
- Operational Risk Managers
- Credit Card Program Administrators
- Comptrollers