Myth or Fact: I Can Accept Credit Card Payments With Zero Fees

As business owners ourselves, we understand the value of operational cost savings in today’s landscape. We talk to a lot of business owners every day – from every industry – and they all have the same item on their cost-saving wish list: lower fees for accepting credit cards. Imagine their delight when we share with them that we can do more than lower their fees. We can actually ELIMINATE transaction fees on credit cards!

So, let’s set the record straight about ZERO FEE merchant processing, the proper way to implement it and the only way to be in full compliance with the card brands.

Our CardX Program is a fan favorite. It is a turn-key solution that allows you to pass along credit card transaction fees to the consumer who wishes to pay for your services or merchandise with a credit card. The program is designed to comply with ALL the rules, including officially registering your business with the card brands. Check out some of the most frequently asked questions below:

Q: How will my customers feel about me passing along the fees for using a credit card?
A: There are thousands of businesses already using this type of model. With our CardX Program, customers who do not want to absorb the fee can simply pay by debit card, check or cash. Our merchants generally do not see significant pushback to the program and since the program is month-to-month, there is always the option to return to traditional processing with us.

Q: My business is located outside New Jersey. In what states is CardX compliant?
A: Currently, our CardX Program is available in all states except for Colorado, Connecticut, Kansas and Massachusetts. In New York and Maine, an additional disclosure is required.

Q: Can I pass on the fees for both credit card and debit card transactions?
A: No. This program applies to credit card purchases only and any processor who is surcharging on debit card purchases is doing so at a risk to themselves and their business. The card brands do not sanction debit card surcharging as debit card transactions are seen as cash. Merchants will continue to pay the fees on debit card transactions.

Q: How do I know if a customer is using debit or credit? Do I have to ask them?
A: Our intelligent software will automatically determine if the card being used is a credit or debit card and assess the fee to either you (in case of debit) or the customer (in case of credit). All very easy and seamless.

Q: How do I go about informing my customers about this new program?
A: Our team provides our merchants with necessary signage and compliant language needed to inform customers.

Q: How quickly can this program be implemented?
A: Once we have the application completed and signed, boarding takes just a few days. Setup and training will take place at your convenience.

OTM Payments is working around the clock with businesses to implement innovative credit card acceptance programs that offer key operational and cost-saving advantages. To learn more about our CardX Program and how to start accepting credit cards without fees, reach out to us at 732-230-7702 or [email protected]. We are always here to help!


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