Passing on interchange fees has always been against card network regulations and companies have found unique ways to get around the regulations or simply did not comply. An anti-trust lawsuit was filed in 2005 and in July 13, 2012 the suit was finally settled.
Credit card surcharging is prohibited in ten (10) states while other states are considering legislation. The regulations are daunting for charging a surcharge; should you consider it to recoup transaction fees?
This session is a cost-effective way tounderstand and comply withthe recent changes in surcharging law that could not only affect your merchant processing transactions but also your credit card usage. The worst thing end-user organizations can do is to have an uninformed reaction to surcharging.
It's important to first look at the big picture. End-users should also educate suppliers about the economics of card acceptance, pointing out the savings possible and other benefits.
When suppliers are reaping the rewards, they should not be adding a surcharge. They might overlook the benefits of card acceptance, as well as the cost of other payment methods like checks and cash.
This training on credit card interchange fees rules will clearly explain the changes in the rules, which group will benefit from the changes and how it will affect the retailers and customers.
• History of surcharging
• What changed in the rules?
• Why did it change?
• Who may benefit?
• Card and brand rules and regulations
• Results from two independent surveys
• Will this change anything?
Who Should Attend?
This informative session is designed for:
• Credit Card Program Administrators
• Credit Card Issuers
• Banks with online merchant customers
• Multi-state merchants
• Brick and mortar merchants
• Financial Officers
• Risk Officers
• Internal Auditors
• Operational Risk Managers