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Myths, Mystery, History and Legality around Credit Card Surcharging - For Every Finance & Accounting Professional

4.2 (87)

Jeremy Layton, BA (Business Finance)

Verisave

Tuesday, December 10, 2019 | 11:00 AM EDT

  • CPA Canada
  • CPA

1 Credit

FREE

Subject Area

Business Management and Organization

Upcoming Webinars

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 upto 50% and that too without switch processor.

Learning Objectives

  • Understand the history of the credit card industry and complexity of it with different players operating differently.
  • Credit Card Surcharging Rules
  • Understand the merchant account fee structure a little in detail.
  • Learn the dynamics of the fee amounts driving higher or lower.
  • Learn about the errors, inflated fees & hidden charges in credit card processing.
  • Learn without switching processors, how you can significantly reduce your credit card processing fees.
  • Learn how CPA or Tax Pro or Accountant can partner with Verisave and make more by referring client and be a valued advisor to them.

Who Should Attend?

  • Accounting Firm
  • Business Owner
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • QB Pro Advisor
  • Xero Advisor
  • Young CPA

Testimonial

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    [no_of_record] => 87
    [average] => 4.2299
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4.2

(87)
46%
40%
8%
2%
3%

JF

Five Star. This webinar was very informative. I was not known to the ways we can save the surcharges on our credit card. It was fantastic. Along with that the initiative of 1 Credit = 1 meal taken by myCPE is highly commendable.

RF

What i thought that this is a difficult concept to grasp but Jeremy's explanation made it very easy to understand. With the help of this information, though, I finally feel like I understand the basic credit card surcharging structure and how to save surcharges. Thanks for sharing this well thought out explanation!"

KK

I thank you for this website and speaker because they both have contributed to my knowledge. Excellent material! This helped me in revisiting the concepts again. Thank you very much.

JB

I picked online classes because it allows greater flexibility in planning your day and working around family or work. And with course offered completely for free and so much to learn, it really exceeded my expectations.

EF

I really appreciate your teaching skills. I have been in attending online webinars for the last five or six years and hardly i have come across a spectacular presentation before. You really deserve a compliment. It was really worth the time. I enjoyed learning with you.

MB

I appreciate the efforts made for presenting this webinar. Also, thank you myCPE for webinars. Your platform has been a source of accounting and finance knowledge to me. Well done !