Everything You Need to Know About the Benefits of Credit Card Surcharging
There are multiple ways field services businesses can offset the costs of offering credit card payment options. Surcharging is one of the most common ways that is done. We call it zero-cost processing – process credit cards for your customers at no additional cost to you.
Arborgold helps you manage your field services businesses from wherever you are, and utilizing surcharging can bring even more value to your business through Arborgold Payments with zero-cost processing.
Here is how credit card surcharges can help.*
What is Surcharging?
A credit card surcharge, also known as a “checkout fee”, is charged to a customer for the use of a credit card. Surcharging allows your business to process credit cards at zero cost to themselves.
Instead, the credit card interchange fees are passed directly to the customer at the time of payment.
Typically, a surcharge is a percentage amount of the total bill which is added to the final invoice. It’s important to note that surcharging only applies to credit card purchases – not debit cards or gift cards.
For example, a convenience fee may be applied when you shop at a store which requires you to pay $1 for using your card on transactions less than $10. Regardless if you spend $3 or $9, as long as it is under $10, you have to pay the additional dollar. Conversely, a surcharge is a percentage of the value of the sale. For example, if a cardholder purchases $100 in garden supplies, a merchant may choose to add a surcharge of 3% to the total purchase.
Benefit from Credit Card Surcharges with Arborgold Payments
Enabling surcharging is easy with Arborgold Payments. The all-in-one platform simplifies the entire surcharging experience while allowing your business to have quick access to the information they need to maintain compliance and increase business performance. Here are a few things you can expect with Arborgold Payments and zero-cost processing.
Data and Reporting Dashboard – Easily monitor payment trends and collection totals from a single dashboard. Quickly review the original total, the surcharge, and the new final total for all website payments, invoices, and scheduled invoices before completing transactions.
Transparent – Automatically display the full breakdown and surcharge rate within customer invoices, web payments, and payment receipts.
100% Compliant – Arborgold Payments is compliant with major credit card networks and with individual state regulations.
Dedicated Support – Arborgold Payments’s in-house team of experts works with each business to maximize revenue while still adhering to state and federal surcharge guidelines.
Top-Level Security – No matter how people want to pay, payments are protected by the highest level of PCI security standards available. Arborgold Payments empowers business owners by providing the tools and expertise they need to become PCI compliant. Card information is encrypted on all processing devices, and sensitive information is never stored after a transaction.
Leverage the best all-in-one software payment solution for every payment need. Learn more about Arborgold Payments and find out how you can quickly get started with surcharging today. Arborgold Payments can help you cut costs, streamline your payment processing, and get paid faster.
*Note: Surcharging is subject to regulations which vary by state, so be sure to check your state’s regulations first. But, the benefits to surcharging for your business are worth considering.