October 11, 2017 - by Mark Wilsdorf
Maybe you sell produce at some local farmer's markets or from a roadside stand or, on some days, you set up a table and canopy on the parking lot of an agreeable local business and sell produce from there. Or maybe you have another kind of farm-based business which needs to accept credit card payments from your customers. And maybe you have one of those mobile credit card readers on your smartphone (from Square, Capital One, Electronic Merchant Systems, Payline, PayPal, or many others), which makes it convenient to accept credit cards for payment wherever you are.
You probably don't like the fact that accepting credit card payments costs you 2.5 - 3.5% (or more) of the purchase price in card payment processing fees, so you may have considered adding a 3% surcharge for payments by credit card. But are you sure you want to do that? You may be surprised to learn that the card payment industry has specific requirements you must to meet before adding a surcharges for credit card purchases, and that surcharges are even illegal in some states. Maybe most important, you need to consider how your customers might react to a surcharge.
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