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Course Details

Overview of Topics

  • Credit Card Industry Stats

    10 mins
  • CC Industry Structure

    15 mins
  • How to Mitigate Fees

    21 mins
  • How to Surcharge

    27 mins
  • Merchant Account Audits

    43 mins

Course Description

A surcharge, also known as a checkout fee, is an extra fee charged by a merchant when receiving a payment by credit card also known as the merchant service fee or credit card fees, etc. The New York law prohibits businesses from posting a cash price and adding a fee when customers choose credit (a “credit card surcharge”). However, the law permits businesses to post a credit card price and charge less when customers choose cash, check, or equivalent means (a “cash discount”). Similar “no-surcharge” laws exist in 9 other U.S. states. Credit card companies make money off cardholders in a wide range of ways and their income has been experiencing solid growth for years.

They charge for

  • Interest Income
  • Interchange Fees
  • Cash Advance Fees
  • Annual Fees
  • Penalty Fees
  • Enhancement Income

Credit card company made 163 billion of these Incomes in 2016 from Businesses & Individuals. This money comes from the bank account of business who happens to be your client or whom you work for. 

In this Free CPE webinar session, we will detail out

  • The steps one must take to properly (and legally) implement to protect from credit card surcharging.
  • As well as what are the other ways to reduce credit card processing fees.
  • And how you can advise your clients/companies reducing surcharging fees from credit card companies.

CPA or Accountants or Tax Professionals this webinar will give you insights on advising your clients on how to significantly reduce your credit processing fees and will help you in being a valued advisor. 

CFO, Staff Accountants, Director of Finance, Controller you are always expected to improve bottom-line of your company, this webinar will help you in understanding step by step how you can really reduce your company’s credit processing fees up to 50% and that too without switch processor.

Webinar Qualifies for

  • 1 CPE credit of Finance for all CPAs
  • 1 CPD credit (Verifiable) for Canadian CPAs
  • 1 CFP credit of General Financial Planning Principles for all CFPs (CFP Board Approved : 8061)
  • 1 General Educational credit for Tax Professionals/Bookkeepers/Accountants

Learning objectives

  • To recount the history of the credit card processing industry
  • To recognize what a credit card surcharge is, its rules and when/how should it be applied.
  • To identify the merchant account fee structure a little in detail.
  • To identify various strategies to reduce your credit card processing fees through alternate means
  • To identify the errors, inflated fees & hidden charges in credit card processing.

About Presenter

Jeremy Layton started Verisave back in 2001 with the service of identifying and collecting overpayments made by their customers to their suppliers. In 2010 Jeremy noticed that most of his customers were paying a lot of money to process credit card payments. After digging a little deeper, he found that most of his customers were actually paying much more than they needed to and Jeremy was determined to help them reduce these fees. Over the past 10 years Jeremy has become an expert in all things relating to the credit card processing industry. In fact, Verisave saved its customers over $30 million on credit card processing fees.

Verisave is a seasoned auditing company that helps organizations identify and eliminate excess merchant processing fees. Since 2002, the Verisave team has served clients throughout the United States in a variety of industries by providing clarity and transparency in a complicated area of business. Our team of processing industry experts brings experience and knowledge to the table with one goal–to identify and implement measurable savings for your business.

Review Questions

  • Question 1 : 00:15
  • Question 2 : 00:30
  • Question 3 : 00:45
  1. Which of the following represents the transformation of Credit card industry over the years?
  2. Which of the following represents the pillars of the structure of the credit card industry that charges the most in the credit card transactions?
  3. How much potential saving a merchant account auditing can help a regular substantial credit card user on an average?
  1. Which of the following represents the pillars of the structure of the credit card industry that takes the most risk in the credit card transactions?
  2. How much potential saving a merchant account auditing can help a regular substantial credit card user on an average?
  3. Which of the following is the thing you would want to know before you start surcharging?
  4. Which of the following is one of the DIYs increase your credit card with an additional layer of security?
  5. Which of the following is the benefit of the gain share billing from merchant account auditing?

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

Reviews

4.6
(437)
66%
28%
6%
0%
0%
  • RT
    Ronald Taylor , CPA
    Jul 8th 2020
    One of the best online presentations. I was not falling asleep as the presenter was engaging and knew the material.
SB
Sharon Bennett , ACCT./BK, EA
Course provided relevant information and a clear understanding of Surcharging.
RF
Rachel Flessner , CPA
learned a lot about the credit card business
JS
Jennifer Syme
excellent information presented in an understandable format.
RH
Ricky Hall , CPA
Informed of something that I was completely ignorant about. Thank you.
AP
Andre Perez
Excellent

NASBA Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

On-Demand Webinars

IRC 199A: 2 YEARS IN – KEY OVERLOOKED PLANNING INITIATIVES
Wednesday, November 11, 2020 View Details/Register
PASSIVE LOSS ISSUES WITH SCHEDULE K-1S
Wednesday, November 11, 2020 View Details/Register
IRS TAX PRACTICE & PROCEDURE INTRODUCTION
Friday, November 06, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON Partnerships & LLCs (FORM 1065) - 2020 UPDATES
Friday, November 06, 2020 View Details/Register
ITEMIZED DEDUCTION UPDATES - WITH EXAMPLES & CASE STUDIES
Thursday, November 05, 2020 View Details/Register
COVER YOUR ASSETS: FRAUD AND INTERNAL CONTROLS
Monday, November 02, 2020 View Details/Register
Excel Accountant: CREATING ERROR-FREE EXCEL SPREADSHEETS
Monday, November 02, 2020 View Details/Register
HOW TO ANALYZE YOUR CLIENT’S TAX SITUATION
Monday, November 02, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON S CORPORATION (1120S) - 2020 Updates
Friday, October 30, 2020 View Details/Register
IRS PENALTIES, ABATEMENTS, AND REASONABLE CAUSE
Wednesday, October 28, 2020 View Details/Register
YELLOW BOOK BOOT CAMP - NFP AND GOVERNMENTAL ACCOUNTING & AUDITING UPDATE
Wednesday, October 28, 2020 View Details/Register
IS IT DEDUCTIBLE: COMMONLY ASKED IRS DEDUCTIONS (UPDATED 2020)
Wednesday, October 28, 2020 View Details/Register
YELLOW BOOK BOOT CAMP – INTRODUCTION TO NFP AND GOVERNMENTAL ACCOUNTING & AUDITING
Monday, October 26, 2020 View Details/Register
Ethics for Wyoming CPAs
Friday, October 09, 2020 View Details/Register
WORK WELL REMOTE: BOUNDARIES FOR BETTER HABITS
Wednesday, October 21, 2020 View Details/Register
  • Cost FREE
  • CPE Credits 1
  • CPD Credits 1
  • Subject Area Finance
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Published Date October 22 ,2020
  • Who should attend? CFO/Controller Business Owner CPA - Small Firm CPA - Mid Size Firm Accounting Firm CPA (Industry) Young CPA CPA in Business Entrepreneurial CPA Outsourced CFO Senior Accountant Cloud Accountants Entrepreneurial Accountant Accounting Managers
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

IRC 199A: 2 YEARS IN – KEY OVERLOOKED PLANNING INITIATIVES
Wednesday, November 11, 2020 View Details/Register
PASSIVE LOSS ISSUES WITH SCHEDULE K-1S
Wednesday, November 11, 2020 View Details/Register
IRS TAX PRACTICE & PROCEDURE INTRODUCTION
Friday, November 06, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON Partnerships & LLCs (FORM 1065) - 2020 UPDATES
Friday, November 06, 2020 View Details/Register
ITEMIZED DEDUCTION UPDATES - WITH EXAMPLES & CASE STUDIES
Thursday, November 05, 2020 View Details/Register
COVER YOUR ASSETS: FRAUD AND INTERNAL CONTROLS
Monday, November 02, 2020 View Details/Register
Excel Accountant: CREATING ERROR-FREE EXCEL SPREADSHEETS
Monday, November 02, 2020 View Details/Register
HOW TO ANALYZE YOUR CLIENT’S TAX SITUATION
Monday, November 02, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON S CORPORATION (1120S) - 2020 Updates
Friday, October 30, 2020 View Details/Register
IRS PENALTIES, ABATEMENTS, AND REASONABLE CAUSE
Wednesday, October 28, 2020 View Details/Register
YELLOW BOOK BOOT CAMP - NFP AND GOVERNMENTAL ACCOUNTING & AUDITING UPDATE
Wednesday, October 28, 2020 View Details/Register
IS IT DEDUCTIBLE: COMMONLY ASKED IRS DEDUCTIONS (UPDATED 2020)
Wednesday, October 28, 2020 View Details/Register
YELLOW BOOK BOOT CAMP – INTRODUCTION TO NFP AND GOVERNMENTAL ACCOUNTING & AUDITING
Monday, October 26, 2020 View Details/Register
Ethics for Wyoming CPAs
Friday, October 09, 2020 View Details/Register
WORK WELL REMOTE: BOUNDARIES FOR BETTER HABITS
Wednesday, October 21, 2020 View Details/Register