Preferred Businesses for ZERO FEE Program
HOAs
Retail
Church
Child Care
Restaurants
Gas Stations
Legal Services
Utility services
Bars /Nightclubs
Automotive Repair
Convenience Store
Medical/ Wellness
Association /Clubs
Automotive Towing
Accountant/ Tax prep
Barber Shops / Salons
Government/ Municipality Services
Home repair/ Maintenance Services
A payment card surcharge, also known as a checkout fee, is an additional fee that a merchant adds to a consumer’s bill when he or she uses a card for payment.
Merchants in the U.S. and U.S. territories may add a surcharge to credit card transactions only.
No. The ability to surcharge only applies to credit card purchases. U.S. merchants cannot surcharge debit card or prepaid card purchases.
YES! The terminal provided by the PayKoncept is compliant to the surcharge program and will automatically differentiate between Debit and Credit.
NO, the terminal provided by PayKoncept will automatically identify the type of payment and calculate surcharge amount.
All credit card brands allow surcharging.
Currently, several states have laws that prohibit or limit surcharging, including, Colorado, Connecticut, Kansas, Maine, Massachusetts and Oklahoma
No. If a merchant is legally prohibited from surcharging in one state, Visa’s rules do not prevent the merchant from surcharging in other states that allow the practice.
Yes. U.S. merchants that surcharge must disclose the surcharge dollar amount on every receipt. In addition, disclosures indicating that a merchant outlet assesses a surcharge on credit card purchases must be posted at the point of entry and point of sale/transaction. The signage will be provided digitally by PayKoncept.
No. The rules discussed in this Q&A related to the surcharging of credit cards apply to purchases made in the U.S. and U.S. territories only.
Yes. Only Visa and MasterCard, require that you provide a 30 day written notice that you plan to surcharge. We will notify the VISA/Master card at the time of your completion of application.
In-person, Ecommerce. Moto
NO, Surcharge will be deducted from the customer’s card and deposited to the processor in real time. The only amount you will see in your deposit will be the amount of sale before the Surcharge.
As the Surcharge is directly deposited with the processor, the merchant does not have liability for the surcharged amount.
U.S. merchants that intend to surcharge are required to: Notify Visa and Mastercard y at least 30 days in advance of beginning to surcharge.
A notification form to Visa and Mastercard can be submitted at
https://usa.visa.com/Forms/merchant-surcharge-notification-form.html
https://www.mastercard.us/en-us/surcharge-disclosure-webform.html
Paykoncept is a registered ISO/MSP in association with Fifth Third Bank, NA
No, you are not able to switch between transactions. But you are able to discontinue the program and move to traditional processing at any time.