By Shefali Kapadia
Nearly two years after Visa began cracking down on surcharges, payments processors and independent sales organizations say they have a better understanding and sense of clarity on the network’s rules.
At that time, Visa imposed a credit card surcharge cap of 3%, down from the previous cap of 4%. Many in the industry found communication and details to be lacking, and Visa’s cryptic business notices left payments professionals searching for answers.
Merchants are innovating in the market to cover rising interchange fees Visa charges them whenever consumers swipe to pay with that network’s cards. Regardless of retailers’ and restaurants’ approaches, they must follow the network’s rules to accept such payments.
Lately, James Shepherd, founder and CEO of CCSalesPro, said he’s heard far fewer “rumblings” about the card giant’s surcharge changes, including from his independent sales organization clients.
Continue reading on Payments Dive.
SHEFALI KAPADIA 