How to handle dynamic surcharging

Surcharging is an extra charge levied on a customer at the point of sale for the cost of processing electronic payments. Dynamic is when it changes by pay type. Fortunately for our clients, we have a simple and safe solution for those wanting to introduce this fee, which is automatic with no investment or cost to set up itup, which can save their business money.

Key Takeaways:

• Surcharging is an extra charge levied on a customer at the point of sale for the cost of processing electronic payments. Dynamic is when it changes by pay type. Fortunately for our clients, we have a simple and safe solution for those wanting to introduce this fee.
• The amounts involved are NOT trivial. The Reserve Bank Of Australia (RBA) here which presumably the ACCC will use for a guide, stated that Visa or MasterCard debit transactions may cost a business around 0.5 per cent of the transaction value.
• Almost all consumers dislike surcharges; one study showed “more than 90% of consumers want surcharges eliminated; one in four don’t return to a business if surcharged, and three in four tell others to avoid a business because it surcharges.”

“Almost all consumers dislike surcharges; one study showed “more than 90% of consumers want surcharges eliminated; one in four don’t return to a business if surcharged, and three in four tell others to avoid a business because it surcharges.””

http://www.possolutions.com.au/blog/how-to-handle-dynamic-surcharging