When a fee is incorrectly applied to a transaction, an additional fee charged to those consumers using a credit card might be labeled a Surcharge, and that is expressly forbidden by Visa, Mastercard, and the processing provider without taking very specific steps. Additionally, you are forbidden by Visa, Mastercard, and the Processor’s rules to profit on a credit card transaction, which could happen if you accidentally charged more than you were being charged by the processor.
The way to avoid this risk is to implement an automated Cash Discount Program that is different than a Surcharge.The Cash Discount Program is a way for you as a merchant to offset some or all of your current merchant service fees without increasing your overall rates. It is a method of implementing an increase in price to all customers, while giving a discount to those who pay with cash. Those customers who pay with cash avoid some or if not all (owners discretion) of the price increase. Our technology allows this to happen and keeps you within the guidelines of Visa, Mastercard, and processor regulations. VizyPay's CDP Program offers: