Over the past few years, one term has come to represent the drastic difference in the way businesses are operating: integrated payments. To summarize the current environment that has given rise to the integrated payments model, you need only look as far as eCommerce, which necessitates a business model where payments are nestled in among all the other various processes driving the business. For brick-and-mortars, too, it doesn’t take a wild imagination to see just how helpful integrating all the technologies that your business relies upon can be, and how payments, as the heartbeat of your organization, so to speak, is the ideal place around which to centralize all these processes. Let’s look at why integrated payments has such a powerful advantage over the traditional way of accepting credit card for small business.
Pen and paper management, to most, can hold back your company like a ball and chain around the ankle. This is because of just how much better it could be, and just how much technology has benefitted small- and medium-sized businesses through automating the routine tasks that amount to so many crucial man-hours. Particularly for SMBs, those man hours are practically invaluable, due to how much need- to be done to grow, and how few people there likely are to get it done.
The list of processes that can be simply integrated and automated continues to grow. It’s up to each business to determine the cost to benefit balance, and to determine just how much to move over to an integrated process.
One wide and expansive frontier in operations that opens up once a business transitions over to a more integrated payment structure is the Data. Back when the books were on pen and paper, it was virtually impossible to find out key data items, and the trends that were hidden—either that or, such as with inventory, it was such a time-consuming process. When you integrate various software solutions, which are able to do the number crunching for you, generating reports can be something close to automatic. That information is the best reward you can give yourself, as it enables you to take action, all over the processes of your business. Be more on top of that inventory. Automatically reorder products on a schedule that matches your consumption (no guessing required). The ecosystem of solutions for bookkeeping, scheduling, and more, can free you up to do so much more.
But wait—all this data becomes a reward for customers, too. With an integrated CRM, you can more easily keep track of interactions with your customers, which means, with the right platform and a little effort, you become able to cater to your customers’ needs and preferences better than ever before. You can customize special offers, cross-sell items that have a good chance of working for them, and ultimately, be a better person to your customers by paying attention to your relationship with them. That’s added value to the customer, and added value for you over the lifetime of your relationship.
If you are looking to upgrade your way of accepting credit card for small business, it makes good sense to look at the decision as a way to grow into the future. Moolah takes payments seriously, and love to see what integrations can do for businesses.
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A credit card surcharge is an additional fee added to a transaction when a patient chooses to pay with a credit card. The surcharge is intended to help offset the cost of credit card processing and applies only to eligible credit card transactions.
No. Debit card transactions may not be surcharged under any circumstances, even if the debit card is processed as a credit transaction or entered manually.
Yes. Credit card surcharges may not exceed the merchant’s actual cost of accepting credit cards and are capped at a maximum of 3% of the total transaction amount, in accordance with card-network rules and applicable law.
Yes. Card networks require clear and transparent disclosure of any credit card surcharge. Practices must notify patients through appropriate signage at the practice entrance, point of sale, and anywhere payments are accepted. If payments are accepted online, the surcharge must also be clearly disclosed on the practice’s website.
Yes. Some U.S. states and territories prohibit or restrict credit card surcharging. Practices are responsible for understanding and complying with their state’s specific requirements before implementing a surcharge.
No. While Moolah provides tools and general guidance to support credit card surcharging, compliance with all applicable laws and card-network rules is the responsibility of the merchant. Moolah does not provide legal advice and assumes no liability for a merchant’s compliance.
Most major credit card networks permit surcharging when done in accordance with their rules, but additional requirements or restrictions may apply. Practices should ensure they have completed all required network notifications and disclosures prior to enabling surcharging.
Failure to comply with surcharging rules may result in card-network fines, required refunds, or other enforcement actions. Practices should ensure they fully understand all applicable requirements before applying a surcharge.
Flex does not currently offer built-in support for credit card surcharging. If a practice chooses to enroll in a surcharge plan, payments would need to be processed through Moolah’s payment platform, which is designed to support surcharging and integrates directly with Open Dental.
If you are considering introducing a credit card surcharge for your patients, it is important to understand that there are specific rules and regulations that must be followed when enrolling in and operating under a surcharge plan.
This article provides a general overview of common surcharging requirements. This content is provided for informational purposes only and does not constitute legal advice. It is the responsibility of each merchant to review, understand, and comply with all applicable laws, card-network rules, and regulatory requirements, including notification timeframes, signage requirements, surcharge percentage limits, and jurisdictions where surcharging is prohibited.
If you are unsure about the laws or regulations applicable to your practice, you should consult with qualified legal counsel. Moolah assumes no liability for a merchant’s compliance or non-compliance with credit card surcharging rules or regulations.
Transparent Communication
Card networks, including Visa, Mastercard, Discover, and American Express, require merchants to clearly and transparently disclose when a credit card surcharge is applied.
Practices must clearly notify patients of a credit card surcharge through appropriate signage placed at the practice entrance, at the point of sale or terminal, and anywhere payments are accepted. If payments are accepted online, surcharge disclosures must also be clearly visible on the practice’s website. All disclosures must inform patients that the surcharge applies only to credit card transactions.
Surcharge Limits
Credit card surcharges must comply with both card-network rules and applicable law. The surcharge amount may not exceed the merchant’s actual cost of accepting credit cards and may not exceed 3% of the total transaction amount.
Card-network rules cap credit card surcharges at 3%, meaning that if a merchant’s processing costs exceed this amount, the excess portion cannot be passed on to the patient.
Network and State Restrictions
The major credit card networks, such as Visa and Mastercard, impose specific requirements related to surcharge limits, advance notification, and disclosure.
In addition, several U.S. states and territories regulate or prohibit credit card surcharging. At the time of writing, credit card surcharging is prohibited in Connecticut, Maine, Massachusetts, and Puerto Rico. Other states, including Colorado, Minnesota, Mississippi, New Jersey, and New York, impose restrictions on surcharge amounts or require specific disclosures.
If your practice operates in a state that restricts or prohibits credit card surcharging, you must fully understand and comply with those requirements before implementing a surcharge.
Debit card transactions may never be surcharged, even if the debit card is processed as a credit transaction.
Applicability
Credit card surcharges may be applied only to credit card transactions. Other payment types, including debit cards and alternative payment methods, are not eligible for surcharging.
Regulatory Compliance
Merchants are responsible for maintaining ongoing compliance with all applicable card-network and legal requirements. This includes meeting advance notification obligations, using compliant signage and disclosures, adhering to surcharge percentage limits, and respecting jurisdiction-specific restrictions.
By following these guidelines, dental practices can implement credit card surcharging in a way that aligns with card-network rules and promotes transparency with patients. Clear and upfront communication helps maintain patient trust and supports a positive payment experience.