Let’s look at the pros and cons via our FAQs below to see if this program to keep more of your revenue is for your business
Frequently Asked Questions to see if Surcharging is Right for Your Business
to Accept Credit Cards at Almost 0% Cost, while Being 100% Compliant.
Surcharging is highly complex – there are a lot of rules that a merchant has to follow and you need to be sure that you are set up with a processor and technology that will keep you compliant – and a decision that each merchant must make for themselves.
Will you lose bookings over guests being unhappy about the additional fee? This is an important question. The card brand regulations require you to alert the consumer about the surcharge before charging it. Offering alternative payment methods (debit, ACH, cash, check, depending on the situation) to clients who start to book but do not want to pay the surcharge allows you to still move forward with the booking. And those other payment methods all carry a much lower processing price tag for you as a merchant.
In the vacation rental industry, a benefit to surcharging is that it allows you to differentiate your management company from others that pass the processing fees – or part of them – to the homeowner. You might win more owner contracts by offering surcharging. Property owners prefer a management company option with lower or no processing fees in their program.
This is a decision that each merchant needs to make for their business. If you have questions or want more information on ASCENT Surcharging, contact us at firstname.lastname@example.org.