Surcharge fees may be a new way for a business to recover the cost of a credit card transaction. You are not alone in trying to determine the best response to the new surcharge rules. The following updates are more “food for thought”:
Here is a link to an article that provides insight from our industry into the response of many retail merchants nationwide. Overall, it appears that merchants have taken a “wait and see” approach to surcharge implementation.
The strategy taken by those in b2b industries such as distributors and manufacturers may differ from the retail industry strategy. While consideration to competition, price sensitivity and implementation costs are similar, differences within each consideration may make it possible for you to choose a different surcharge strategy.
Up to this point the reaction from Wind River Financial clients has reflected these trends. While many in the retail industry are cautious about implementation, businesses in other industries aggressively seek to understand the financial implications of the new rules.
Let us help assess your situation so that you can make an effective decision for your business. Please contact us for an insightful discussion. Client Customer Care 800 704-7253