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Credit Card Surcharging: A Guide
The costs of running a business continue to rise, from the soaring costs of goods and services to higher employee wages, straining margins. So it’s no wonder that business owners face tough decisions: raise prices across the board or absorb the extra costs. Fortunately, when it comes to controlling the rising costs of accepting credit cards, there’s a solution that helps merchants offset transaction fees. It's called credit card surcharging, and it’s gaining momentum. In a 2022 survey by PYMNTS.com, about 80% of cardholders reported paying a surcharge.
PayJunction Team
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How To Manage the Cost of Payments When Interchange Rates Increase
The four card brands—American Express, Discover, Mastercard and Visa—assess Interchange fees on card payments to compensate the card-issuing banks for processing transactions. Fees are typically reviewed and adjusted once or twice a year, in April and October. In 2020, due to the COVID-19 pandemic, the card brands suspended most practices so as not to further burden businesses hit with closures, labor, supply chain issues and other challenges.
PayJunction Team
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How to Comply with Visa’s New Fraud-Fighting Rules
Visa recently introduced new rules for e-commerce fraud prevention. This article explains how these rules impact your online business and steps you need to follow to avoid new fees.
PayJunction Team
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Visa Requires Online Refunds
Until recently, Visa refunds occurred offline. What does that mean, exactly?
Ursula Librizzi
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Credit Card Fraud in America Today
According to the most recent Nilson Report, $24.26 billion is lost worldwide to credit card fraud on an annual basis, which is comparable to the Gross Domestic Product of nations such as Iceland and El Salvador.
PayJunction Team
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Mastercard Cards Without Signature Panels Starting April 2019
If you haven’t noticed, a major trend has emerged in the last year around signatures and credit cards. In late 2017 and early 2018, card brands announced major changes to their signature requirements. Mastercard is now taking yet another step away from signatures.
Ursula Librizzi
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