Another state makes it official that merchants have the right to surcharge non-cash payments. Merchants and the State of New York agreed to dismiss the lawsuit banning credit card transactions. Per Digital Transactions:
“The dismissal requests come in the wake of a New York state appellate court’s decision affirming merchants’ right to surcharge if they clearly inform consumers and do not make them do the math to determine the true price of a credit card purchase. In the bigger picture, the action means that another big state’s surcharge ban has fallen in the wake of bans being removed recently in Florida, Texas and California.”
So what does this mean for business owners across the country?
Businesses now have a choice when it comes to accepting credit cards. They can continue to pay expensive credit card processing fees or they can implement cash discount programs like our very own Rate Lock Zero and eliminate their credit card processing fees.