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Is Credit Card Surcharging Legal - Yes and No

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

Overview

  • History of Credit Card and credit card processing industry.
    5 mins
  • Credit card industry: Understanding the structure.
    8 mins
  • Understanding the fee structure and who benefits from these fees.
    12 mins
  • How to mitigate fees without changing the credit card processor.
    23 mins
  • What is surcharging? And is it legal? Benefits and Drawbacks of credit card surcharging.
    24 mins
  • How surcharging should be done? DIY or basic methods that can help you reduce your credit card fees.
    31 mins
  • Merchant account audits – the higher saving approach.
    48 mins
  • How Merchant account audit proves to be beneficial for different Industries?
    49 mins
  • Involvement of different entities in Merchant Account Audits.
    50 mins
  • Understanding of Ideal Audit Process.
    50 mins
  • The working process of Verisave to reduce credit card surcharges.
    51 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 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 mitigate credit card processing fees.

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

  • Understanding the History of Credit Card Industry
  • Credit Card Surcharging Rules
  • Factors that drive fee amount higher or lower.

Who Should Attend?

  • Accounting Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Young CPA

Testimonial

4.6

(298)
64%
27%
8%
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0%

KS

Interesting information on credit card industry

AS

Fascinating subject matter. I learned a lot, thank you!

AK

fantastic

AR

Interesting

KG

Great

SA

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