Why Isn't Every Business Surcharging Yet?

Today, there are multiple ways to pay for goods. Cash, debit card, credit card or even the newer forms of electronic payments like digital wallets. But many merchants accepting credit cards have long grumbled about the cost of fees – and that sentiment has only grown louder now following the pandemic. Well, we are here to tell you there is a way to accept credit cards AND save on operational costs!

By entering into a qualified surcharge program, merchants can pass credit card fees onto the customer. While surcharging on debit card purchases is not compliant, the opposite is true for credit card purchases! Our CardX Program embodies the vision of excellence in surcharging, meeting all requirements. In fact, a newly launched CardX Portal is revolutionizing the way merchants accept payments. So why isn’t every business surcharging yet when it has proven a game-changer for so many?

Compliance
One reason that businesses are reluctant to surcharge is their fear of it not being compliant. Currently, our CardX Program is available as a compliant alternative in all states except for Colorado, Connecticut and Massachusetts. In New York and Maine, an additional disclosure is required. This program applies to credit card purchases only and is designed to comply with ALL the rules. One of the most important regulations is that your business register with the card brands, and our team manages that, so you don’t need to. Our CardX Portal was built off this - from the ground up, constructing compliance all-around passing credit card fees onto customers.

Customer Experience
Many businesses are concerned about customer reaction to surcharging. The fact is that the large majority of merchants from a variety of industries have pivoted over to the surcharging model – without significant pushback from customers. One reason is how seamless the customer experience remains at point of purchase. The smart technology identifies credit cards from debit cards and automatically adds the fee to all credit card purchases. Along with the required small signage informing customers of the program, there is no confusion and no complexity. The checkout process remains as customers expect, keeping them satisfied with the experience.

Ease of Use
Transitioning to the surcharging model is simple and easy. With no long-term contracts, barriers to entry for merchants are eliminated and saving money begins immediately. Additionally, the CardX Portal fully enhances merchant operations with a user-friendly and intuitive interface. Merchants can pull sales reports, create customer profiles, check on deposits, and more! Important details are right at your fingertips!

Compliance is at the heart of our ZERO fee program and the newly launched CardX portal. We recognize that technology will continuously evolve and that means so will we. With this next-generation technology, our innovative cost-saving solutions offer key operational advantages.

To learn more about our CardX Program and CardX Portal, reach out to us at 732-230-7702 or send us an email at [email protected].

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Copyright © 2022 - On The Mark Payments, LLC is a registered ISO of Wells Fargo Bank, Concord, CA. On The Mark Payments provides electronic payment processing services to merchants throughout the country.

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