April 14, 2021

Discounted Credit and Debit Card Processing Services Available to Chamber Members

Today’s customers expect to pay for goods and services however they want – including with their credit cards to earn miles, rewards, etc. But did you know that credit card processing fees are one of the highest costs for most businesses after payroll and benefits? How are today’s business owners able to keep their customers happy by offering the ability to pay with credit cards while keep money in their pocket by not having to pay credit card processing fees? That’s where the Retail Council of New York State’s surcharging program comes in. With our surcharging program merchants can allow customers to pay a fee if they choose to pay with a credit card for convenience or rewards or pay using a debit card for no additional fee. This allows you, the merchant, to keep your prices low and not have to mark up your prices, or lower your profit margin, to the cover the cost of credit card processing. Not only is it fair for the merchant and the customer – it is all 100% compliant with New York State regulations.

Helpful information about the regulations of surcharging in New York State:

  • Debit cards, no matter if a PIN is entered or not, cannot be surcharged – Our program knows the difference between the cards so no chance for errors
  • A surcharge cannot be more than 4% of the total price of the sale – Our program only surcharges 3.5%
  • The business must notify the card brands; Visa, MasterCard, Discover and American Express, 30 days prior to surcharging – Our processor does that for you
  • The business must disclose the surcharge at the point of entry and point of sale – Our programs provides signage
  • The credit card fee and the price of the product or service must be processed together as one transaction – Our program processes the credit card fee and the purchase amount as one transaction
  • The receipt must show the amount of the credit card fee as a separate line item – Our program produces a receipt that itemizes the credit card fee
  • New York State businesses must disclose the credit card price in dollars and cents whenever they post or quote their prices.

*The Retail Council of New York State offers Capital Region Chamber members discounted credit and debit card processing services. Contact Nicholl Lockwood, Michele Coons or Carly Brentini for more information.