Hey guys I have been doing some reading into the new rules regarding credit card surcharges. The rules do not apply to to B2B transactions but it is a bit of a muddle for example if baying with a Business card business can still charge surcharges that do not equate to more than those charges by the merchant services. There is an allowance for a small difference but businesses are not to profit out of the surcharges just meet overhead costs. However if they pay with a consumer card then you business can not charge a surcharge.
We are left with 2 options abolish card surcharges and inflate costs across all our invoices or continue charging surcharges as we are only sell B2B. I am probably going to continue with surcharges. What would be beneficial is that if someone elects to use a onlne gateway we could have a dialogue presented to them about the charges. Either to advise that in compliance with the new ruling we have abolished surcharges / added in a service charge / continue to charge a surcharge.
It would be even better if they were prompted “Is this a consumer sale” or “business 2 Business sale” our business would default to b2b. If they select “consumer sale” no charges would be added and the option to append a separate charge like just eat and the like do… If they select B2B the current charges would be added.