Datacap has you covered with <SurchargeWithLookup> for credit card surcharging and <PaymentFee> for cash discounting/non-cash adjustments. Merchants can use both transaction types if desired. Here’s a brief breakdown of each transaction:
Surcharge
- Surcharging is regulated (by state) and allows merchants to mitigate processor fees associated with processing credit card transactions.
- Datacap’s <SurchargeWithLookup> function leverages a living BIN table in real-time to ensure that only eligible cards are surcharged, maintaining merchant compliance with card brand regulations.
Payment Fee
- A “Payment Fee” is not regulated and can be applied to any transaction.
- “Payment Fee” can be described as just about anything (often identified as cash discounting, reverse cash discounting, or non-cash adjustment). This can also be applied to COVID fee, cleaning fee, service fee, inflation fee, etc.
