Merchant Fee Regulation: Who Qualifies and What You Get
Learn how rules on card payment surcharges protect your business and what you can legally charge customers for processing payments.
This regulation sets rules for how businesses handle the extra costs associated with accepting card payments.
Who it's for
This applies to any business that accepts card payments from customers.
What you get
The regulation places limits on how much payment processors can charge you through excessive surcharging. It ensures that the extra fees passed on to customers are fair and transparent.
What it costs you
To follow these rules, you must ensure your business stays compliant with the specific surcharge regulations set by the government body.
The catch to know
A common mistake is charging customers more than necessary. You are only permitted to charge a surcharge that covers the actual cost you incur to process that specific payment.
How to apply
- Review your current payment processing fees.
- Compare those fees against the actual cost of each transaction type.
- Adjust your surcharge amounts to ensure they do not exceed your costs.
- Check the official government website for the latest regulatory guidance.