Clearo Payments, a merchant services provider serving businesses across the United States and Canada, is highlighting its Credit Card Surcharging Program, a compliant way for business owners to recover up to 100% of their credit card processing costs.
When a customer pays with a credit card, the business typically absorbs a processing fee of 2-3% of the transaction. Surcharging lets the business add that cost to credit card transactions, so the customers who choose to pay by credit card, and who often earn points, rewards or cashback for doing so, cover the cost of that convenience. Customers who pay with debit, cash or prepaid cards pay no surcharge.
The Credit Card Surcharging Program is designed for business owners who accept credit card payments and includes:
Compliance with Visa and Mastercard network rules. Card network rules limit a surcharge to the merchant's actual cost of accepting credit cards and allow it on credit card transactions only. Clearo configures each program within those rules from day one, so merchants never charge customers more than what they actually pay to process the card.
Built-in disclosure and signage. Card network rules require surcharges to be disclosed at the point of entry and the point of sale, and itemized separately on the transaction receipt. Clearo sets up the storefront signage, receipt line items and checkout messaging, so customers know about the fee before they complete their purchase.
Automatic terminal and gateway configuration. The surcharge applies only to credit card transactions, while debit, prepaid and cash payments stay surcharge-free. Terminals and payment gateways apply the surcharge automatically, and a dedicated Clearo rep adjusts the percentage if the merchant's processing costs change.
Surcharging rules vary by state and province, and surcharging is not permitted in every market. Clearo reviews the rules for each merchant's location and confirms upfront whether surcharging is available.
"Most business owners don't realize they can pass credit card processing costs on to the customers who choose to pay by credit card," said Brendan Scott, spokesperson at Clearo Payments. "The key is setting it up properly: compliant with card network rules, clearly disclosed, and never more than the merchant's actual cost."
For some businesses, a different pricing structure, such as cost-plus or dual pricing, can achieve a similar result without a line-item surcharge. Clearo's free statement review breaks down a merchant's current processing costs line by line to help determine the best fit.
Learn more about the Credit Card Surcharging Program: https://clearopayments.com/surcharging/
Request a free statement review: https://clearopayments.com/free-statement-review/
About Clearo Payments: https://clearopayments.com