What is Zero Cost Credit Card Processing?
Also known as “zero-fee processing,” this refers to a no-fee credit card processing method for businesses that accept credit cards. Instead of your business paying the fee, the customer now will pay the processing costs. After they swipe their card at the point of sale, the customer will be notified about the fee and will have the opportunity to accept or decline.
To be compliant, you will still need to pay the fees on all debit card transactions (1% + $0.25) at your business. Our credit card processor systems will detect the type of card being used and ensure you are 100% compliant with the card brand’s rules. Whether it’s in-store or online, Grant Merchant Services will help you stay compliant while passing the correct fees on to your customers.
What are the Benefits?
There are many benefits to this program. First, it can help your business avoid hefty monthly fees for using your merchant account services. Along with that, avoiding these fees can help you to invest more of your profits back into the business.
You will also have the freedom to adjust the pricing of products or services you offer to fit your business’ financial needs. And, it also helps prevent fraud and ensures your business won’t be responsible for invalid charges.
To enjoy these cost savings, Grant Merchant Services will help you register your business as a surcharging business, give you proper notifications to share with your customers, help you pass along a 3.50% fee, and package it all up in one transaction with a proper receipt.
If you’re a governmental agency or educational institution, please reach out for unique industry-specific details when it comes to surcharging.