Processing fees

Discussion area for integrated credit card processing
Post Reply
dandsautoandtruck
25 Club: Starting Contributor
Posts: 32
Joined: Wed Dec 02, 2015 9:31 am

Processing fees

Post by dandsautoandtruck »

New regulations in New York concerning credit card fees. We now have to show both totals on the invoice. One with fees included and the other without, calling it a "cash discount". Up to now we have included a disclaimer on the invoice advising about the fees but this is now illegal. Any tips on how to set this up in Manager SE appreciated.
D&S Auto
User avatar
Silky7
System Guru / Moderator
System Guru / Moderator
Posts: 1041
Joined: Mon Dec 31, 2007 10:07 am

Re: Processing fees

Post by Silky7 »

Hi D&S,

According the documentation I've found (https://www.governor.ny.gov/news/govern ... ect-sunday and https://dos.ny.gov/system/files/documen ... -guide.pdf) you do not need to provide two totals. What you DO have to do is ensure any credit card fees are added from the start, then you are allowed to do a cash discount.

From https://www.governor.ny.gov/news/govern ... ect-sunday :
Requiring businesses to post before checkout:

the total price of an item or service inclusive of the credit card surcharge; or
a two-tiered pricing option, which requires the credit card price to be posted alongside the cash price.
This seems far simpler than trying to present two different estimates/invoices.

Alternatively, you might consider baking the 4% into your business - part markup/labor, etc. Then you can stop adding any additional fees.
M1 Product Manager
dandsautoandtruck
25 Club: Starting Contributor
Posts: 32
Joined: Wed Dec 02, 2015 9:31 am

Re: Processing fees

Post by dandsautoandtruck »

Thanks for the reply. We have considered that as an option but there is the possibility of generating an additional fee when you run the card. Our CC system adds the fee to the transaction when it is processed through the machine.
D&S
Post Reply

Return to “Credit Card Processing”