Surcharging had been historically prohibited in the U.S. per the networks’ merchant rules, as well as prohibited by law in 10 states. Any state laws will continue to “trump” networks’ merchant rules. The recent changes in surcharging law could not only affect your merchant processing transactions but also your customers’ credit card usage.
When suppliers are reaping the rewards, they should not be adding a surcharge. They might overlook the benefits of card acceptance, as well as the cost of other payment methods like checks and cash. This training on credit card interchange fees rules will clearly explain the changes in the rules, which will benefit from the changes and how it will affect the retailers and customers.
WHY SHOULD YOU ATTEND?
The worst thing end-user organizations can do is to have an uninformed reaction to surcharging. It’s important to first look at the big picture. End-users should also educate suppliers about the economics of card acceptance, pointing out the savings possible and other benefits.
AREA COVERED
- History of surcharging
- What changed in the rules?
- Why did it change?
- Who may benefit?
- Sources of information
- Will this change anything?
- What you should do.
LEARNING OBJECTIVES
- Passing on interchange fees has always been against card network regulations
- Companies have found unique ways to get around the regulations or simply did not comply.
- An anti-trust lawsuit finally filed in 2005 and in July 13, 2012 the suit was finally settled.
- Credit card surcharging is prohibited in ten (10) states while another dozen states are considering legislation.
- This training on credit card surcharges compliance will discuss how the recent changes in law will affect end-user organizations.
- It will also provide attendees with the tools necessary to review and deal with any potential surcharge/checkout fee situations.
WHO WILL BENEFIT?
- Corporate accounts receivable managers
- Industries with large credit card receivables
- Multi-state corporations
- Retail organizations
- Financial Officers
- Risk Officers
- Internal Auditors
- Operational Risk Managers
- Credit Card Program Administrators
- Comptrollers
The worst thing end-user organizations can do is to have an uninformed reaction to surcharging. It’s important to first look at the big picture. End-users should also educate suppliers about the economics of card acceptance, pointing out the savings possible and other benefits.
- History of surcharging
- What changed in the rules?
- Why did it change?
- Who may benefit?
- Sources of information
- Will this change anything?
- What you should do.
- Passing on interchange fees has always been against card network regulations
- Companies have found unique ways to get around the regulations or simply did not comply.
- An anti-trust lawsuit finally filed in 2005 and in July 13, 2012 the suit was finally settled.
- Credit card surcharging is prohibited in ten (10) states while another dozen states are considering legislation.
- This training on credit card surcharges compliance will discuss how the recent changes in law will affect end-user organizations.
- It will also provide attendees with the tools necessary to review and deal with any potential surcharge/checkout fee situations.
- Corporate accounts receivable managers
- Industries with large credit card receivables
- Multi-state corporations
- Retail organizations
- Financial Officers
- Risk Officers
- Internal Auditors
- Operational Risk Managers
- Credit Card Program Administrators
- Comptrollers
Speaker Profile
Ray Graber has a deep and thorough understanding of banking, technology, and finance. His business experience includes banking technology research at TowerGroup; best practices internet policies at FleetBoston Financial; wire transfer operations and product launches at Citibank and BankBoston; and treasury operations for a $325 million public company.Ray was an adjunct professor at the Carroll Graduate School of Management at Boston College where he taught E-Banking, MBA Leadership, Corporate Finance, and the Financial Management of Commercial Banks. He also taught Working Capital and Cash Management at the Bentley College Graduate Business Program.Ray holds a Bachelor of Arts degree in Mathematics …
Upcoming Webinars
Managing Difficult Employee Conversations
I-9 Audits: Strengthening Your Immigration Compliance Strat…
Dealing With Difficult People In Life & Work
Predictive Accounting: Driver-Based Budgeting And Rolling F…
Pay Equity Changes for 2024! What Employers Need to Know to…
Leader Branding: How to Communicate with Confidence to Attr…
Project Management for Non-Project Managers - How to commun…
Design Verification, Validation and Testing for Medical Dev…
Data Integrity and Privacy: Compliance with 21 CFR Part 11,…
FFIEC BSA/AML Examination Manual: What Compliance Officers …
Why EBITDA Doesn't Spell Cash Flow and What Does
Harassment, Bullying, Gossip, Confrontational and Disruptiv…
Employee or Independent Contractor – U.S DOL Announces 2024…
How to Survive an Emotionally Toxic Workplace
Best Practices in Complaint Management for Regulatory Compl…
Human Factors Usability Studies Following ISO 62366 and FDA…
Ensuring Safe and Effective Pharmaceutical Products: A Comp…
Gossip-Free: Leadership Techniques to Quell Office Chatter
Updated Metro 2®, e-OSCAR and the New Tougher FCRA/CFPB Com…
Embracing Diversity and Inclusion in Talent Acquisition
Form W-9 Compliance to Avoid Penalties: TIN Verification, B…
Tattoos, hijabs, piercings, and pink hair: The challenges …
Understanding and Analyzing Financial Statements
Divorce, Adoption and Other Special Tax Topics
Design History File (DHF), the Device Master Record (DMR) a…
With Mandatory Paid Leave Gaining Ground Is It Time To Do A…
Setting up Quality System for FDA Regulated Products: Tips …
Is Your Culture Working For or Against Your Success? If You…
Marketing to Medicare or Medicaid Beneficiaries - What You …
The Five Cs Of Commercial Credit: The Basic Elements Of Cre…
Sunshine Act Reporting - Clarification for Clinical Research
Documenting Misconduct that Will Stand Up in Court
Stress, Change And Team Resilience Through Humor: An Intera…
FDA Regulation of Artificial Intelligence/ Machine Learning
Managing Toxic & Other Employees Who have Attitude Issues
Excel - Lists and Tables - A Beginner's Guide to Managing L…
Pharma 4.0: Next Generation Technology Approach to GxP Prod…
Patient Gifts, Discounts and Freebies: What You Can and Can…
Managing Complex Projects - Project Management
All About Civility - Eliminating a Culture of Gossip Rumors…
From Challenges to Compliance: Understanding Dietary Supple…
Improving Employee Engagement & Retention Through Stay Inte…
How To Conduct An Internal Harassment And Bullying Investig…