As a result of the U.S. merchant class settlement agreement that was executed in October of 2012 and approved by the U.S. District Court on November 27th, 2012, Visa and MasterCard will make changes to their rules and practices affecting merchants in the United States. These changes, which take effect on January 27th, 2013, are summarized at the following web sites.
Visa and MasterCard must permit merchants in the U.S. region and U.S. territories to apply an extra fee, known as a surcharge, to customers who pay with credit cards. Merchants that choose to impose a surcharge must assess the surcharge in a manner that is compliant with the standards that have been modified in accordance with the settlement agreement.
It’s important that each merchant review the new guidelines in their entirety prior to engaging in any surcharging practices.
For additional information or questions about surcharging, please contact our Customer Care Center at 888-477-4510.
Click here for Surcharging FAQs