Charging a Credit Surcharge Will Cost You Customers

In July, card issuers and banks reached a $7.25 billon settlement with merchants. As a result of the settlement, nearly seven million merchants in the U.S. will receive paid damages and lower processing interchange fees for an eight-month period. The settlement, which is viewed as a major win for merchants, also allows merchants to surcharge the customer when they choose to pay with credit.

To surcharge or not to surcharge - its the question youll need to answer. On the surface, surcharging may seem like an obvious choice for merchants. Merchants now have the opportunity to earn the same from all customers, regardless of the payment method. Some may even consider it a c…
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