Fixed Ops Magazine 2024 Vol 21-3 - 60

ADMIN DEPARTMENT BY KIRAN UDESHI
PAYMENT
INNOVATIONS
Modernizing Auto Dealerships
I
n the world of merchant processing and payments,
the landscape is undergoing a seismic shift. Customers
no longer view a seamless checkout process
as a luxury; it's now an expectation. However, navigating
the legalities surrounding surcharges has become
increasingly complex, demanding urgent attention and
robust solutions.
From the Big Apple's requirement for distinct disclosure
on cash versus credit pricing, to the mandated 3%
disclosure prior to obtaining an authorization for repair
on transactions in California, the legal landscape is in
constant flux. These regulations change with such frequency
that keeping up requires dedicated resources
and expertise.
SURCHARGES UNVEILED:
THE IMPERATIVE OF COMPLIANCE
Why the emphasis on these legal nuances? The
answer is in the exponential growth of credit card
transactions, especially in the wake of the COVID-19
60
pandemic. With cash transactions dwindling and contactless
payments soaring, surcharges have emerged
as a vital mechanism for merchants to offset the rising
costs of doing business.
The legal framework surrounding surcharges has
evolved significantly since 2013, following a landmark
class-action lawsuit against major credit card companies.
This legal shift paved the way for merchants to
pass surcharge fees directly to consumers, fundamentally
altering the dynamics of payment processing.
Merchants must ensure transparent communication
regarding surcharges, from prominent signage at
point of sale to detailed disclosures on receipts. Each
credit card brand imposes its own set of rules, dictating
everything from surcharge caps to exemptions for
debit card transactions.
While surcharging has gained legal footing in the
majority of states, a handful still have yet to implement,
underscoring the importance of staying abreast

Fixed Ops Magazine 2024 Vol 21-3

Table of Contents for the Digital Edition of Fixed Ops Magazine 2024 Vol 21-3

Fixed Ops Magazine 2024 Vol 21-3 - Cover 21-3
Fixed Ops Magazine 2024 Vol 21-3 - 2
Fixed Ops Magazine 2024 Vol 21-3 - 3
Fixed Ops Magazine 2024 Vol 21-3 - 4
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Fixed Ops Magazine 2024 Vol 21-3 - 30
Fixed Ops Magazine 2024 Vol 21-3 - 31
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Fixed Ops Magazine 2024 Vol 21-3 - 57
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Fixed Ops Magazine 2024 Vol 21-3 - 60
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Fixed Ops Magazine 2024 Vol 21-3 - 62
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Fixed Ops Magazine 2024 Vol 21-3 - Page 64
Fixed Ops Magazine 2024 Vol 21-3 - Page 65
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Fixed Ops Magazine 2024 Vol 21-3 - 68
https://magazine.fixedopsmag.com/prismautomotive/FixedOpsMagazine/fixed-ops-magazine-2024-vol-21-3
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https://magazine.fixedopsmag.com/prismautomotive/FixedOpsMagazine/fixed-ops-magazine-2021-vol18-02
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