Choosing to surcharge credit cards is a big decision and should be considered carefully.
Middletown, CT (PRWEB) February 24, 2016
In response to a growing number of business inquiries about charging customers to use credit cards, CardFellow has released an infographic version of its popular blog post offering detailed information about the rules surrounding surcharges.
The infographic combines information on card brand regulations, consumer opinions of surcharging, and details on credit card usage in order to highlight the multiple facets involved. “Choosing to surcharge credit cards is a big decision,” says Ellen Cunningham, CardFellow’s Marketing Manager. “Our infographic highlights key points that should be considered in any discussion of surcharging.”
Credit card processing costs have long been a thorn in business owners’ sides, and the results of a 2013 lawsuit that made surcharging possible have some businesses considering whether that’s the route they should take to cover their processing costs. But as CardFellow founder and president Ben Dwyer cautions, “It could help the bottom line, but there’s a risk of alienating customers, who might choose to take their business elsewhere.” As such, alternatives to surcharging are also addressed in the infographic. “A business could offer cash discounts, or lower their processing costs by finding a more competitive solution using a comparison service like CardFellow,” Dwyer explains. The infographic also includes a map and list of states that currently prohibit surcharging.
CardFellow, LLC has been helping businesses find the most competitive credit card processing solutions since 2006. The company’s online marketplace offers instant quotes from pre-screened credit card processors as well as personalized support to help businesses select the best option. The company also offers an extensive product directory with one-click options to add processing equipment to quotes, and a review system for consumers to read or post about experiences with processors or equipment. Merchants remain anonymous so they can review quotes without the pressure of sales calls. Based in Connecticut, CardFellow provides services to businesses throughout the United States.