Credit card surcharging was long prohibited by the card networks' merchant rules and banned by law in some states, and state law still overrides network rules. Passing on interchange fees was against network regulations, yet some companies found ways around the rules or ignored them, until an antitrust lawsuit filed in 2005 was settled on July 13, 2012.
This 60-minute webinar covers the history of surcharging, what changed in the rules and why, who may benefit, sources of information, and how the changes affect merchant processing, retailers and customers' card use.
WHY SHOULD YOU ATTEND?
The worst response to surcharging is an uninformed one. Suppliers who benefit from card acceptance may overlook its advantages and the cost of checks and cash. End users should look at the big picture and explain the economics of card acceptance to suppliers.
This session suits accounts receivable managers, financial and risk officers, auditors, card program administrators and comptrollers in retail, multi-state and card-heavy businesses.
AREA COVERED
- History of surcharging and network rules on interchange fees
- The 2005 antitrust lawsuit and 2012 settlement
- What changed in the rules
- Why it changed
- State laws that prohibit surcharging
- Who may benefit
- Sources of information
- Whether this will change anything
- What you should do about surcharges and checkout fees
LEARNING OBJECTIVES
- Explain the history of card network rules on passing on interchange fees
- Describe what changed after the antitrust settlement and why
- Determine how state surcharging laws interact with network rules
- Identify who benefits from surcharging and how it affects customers
- Review and respond to surcharge or 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 response to surcharging is an uninformed one. Suppliers who benefit from card acceptance may overlook its advantages and the cost of checks and cash. End users should look at the big picture and explain the economics of card acceptance to suppliers.
This session suits accounts receivable managers, financial and risk officers, auditors, card program administrators and comptrollers in retail, multi-state and card-heavy businesses.
- History of surcharging and network rules on interchange fees
- The 2005 antitrust lawsuit and 2012 settlement
- What changed in the rules
- Why it changed
- State laws that prohibit surcharging
- Who may benefit
- Sources of information
- Whether this will change anything
- What you should do about surcharges and checkout fees
- Explain the history of card network rules on passing on interchange fees
- Describe what changed after the antitrust settlement and why
- Determine how state surcharging laws interact with network rules
- Identify who benefits from surcharging and how it affects customers
- Review and respond to surcharge or 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