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CPA & Accountants: What You Should Know About Credit Card Surcharging & It's Legality

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Before starting this self study program, please go through the instructional document.

Overview

  • 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.

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.

Who Should Attend?

  • Accounting Firm
  • Accounting Managers
  • Business Owner
  • CFO/Controller
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Outsourced CFO
  • Senior Accountant
  • Young CPA

Testimonial

4.5

(702)
61%
31%
8%
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EB

N

SR

Good information I can pass along to my clients.

CW

na

MM

Thinking of implementing surcharging soon. Didn’t realize all the rules!

HYW

Interesting course to know more about credit card surcharging fees!

RM

Great information