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ZERO FEE IS

FREEDOM

  • No Contract
  • No Fees on credit card processing
  • Free Loaner Terminal ($450 value)
  • $15.00 monthly program fee
  • Let your customers pay for the credit card privileges they enjoy
Apply Form

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How Is Zero-Fee Credit Card Processing Possible?

Since January 27, 2013 a ruling in federal courts has allowed business owners to combat high credit card fees. The Frank-Dodd Act and The Durbin Amendment states that businesses owners now have the right to offset credit card fees with either a Surcharge or Cash Discount Program. We offer a Compliant Surcharge program which helps offset the interchange and processing fees traditionally paid by businesses. This program has a 4% cap on pass thru fees. We provide businesses with compliant hardware solutions utilizing special software that automatically calculates the surcharge and adds a line item on the customer receipt.

Most Businesses See Over 95% in Processing Savings Immediately.

Apply Form

Apply Form

The “ZERO FEE is FREEDOM” program

allows businesses to accept credit cards online, onsite, or on-the-go with little to no fees. Credit card processing is essential to your business, but doesn’t need to hurt your bottom line. Let your customers pay for the credit card privileges they enjoy.

Preferred Businesses for ZERO FEE Program

  • HOAs
  • Retail
  • Church
  • Child Care
  • Restaurants
  • Gas Stations
  • Legal Services
  • Utility services
  • Bars /Nightclubs
  • Automotive Repair
  • Convenience Store
  • Medical/ Wellness
  • Association /Clubs
  • Automotive Towing
  • Accountant/ Tax prep
  • Barber Shops / Salons
  • Government/ Municipality Services
  • Home repair/ Maintenance Services

Restrictions

•The ability to surcharge only applies to credit card purchases. U.S. merchants cannot surcharge debit card or prepaid card purchases.

• Currently, several states have laws that prohibit or limit surcharging, including, Colorado, Connecticut, Kansas, Maine, Massachusetts and Oklahoma

Apply Form

Apply Form

Alternate Services

If surcharge payment processing is not available in your state or is not the right fit, we can absolutely guarantee that we will find you a best solution that fits your needs and ensures that you have the most innovative technology to accept credit cards.
Please click below to connect with your most trusted agent.

Apply Form

Apply Form

Surcharge Q&A

  • Q. What is a payment card surcharge?

    • A payment card surcharge, also known as a checkout fee, is an additional fee that a merchant adds to a consumer’s bill when he or she uses a card for payment.

  • Q. Can I add a surcharge to card transactions?

    • Merchants in the U.S. and U.S. territories may add a surcharge to credit card transactions only.

  • Q. Can I assess a surcharge on both credit and debit card purchases?

    • No. The ability to surcharge only applies to credit card purchases. U.S. merchants cannot surcharge debit card or prepaid card purchases.

  • Q. Will the terminal provided apply the surcharge automatically?

    • YES! The terminal provided by the PayKoncept is compliant to the surcharge program and will automatically differentiate between Debit and Credit.

  • Q. Will a merchant have to calculate surcharge on every Transaction?

    • NO, the terminal provided by PayKoncept will automatically identify the type of payment and calculate surcharge amount.

  • Q. Are there limits to the amount I can surcharge?

    • Yes. U.S. merchants may assess a od 4%

  • Q. What card brands allow surcharging?

    • All credit card brands allow surcharging.

  • Q. Am I required to disclose the surcharge to my customers?
  • Q. What laws exist that may relate to surcharging?

    • Currently, several states have laws that prohibit or limit surcharging, including, Colorado, Connecticut, Kansas, Maine, Massachusetts and Oklahoma

  • Q. I operate stores in multiple states. I understand that state laws prohibit me from surcharging in some states where I operate, but not others. Does that mean I can’t surcharge in any of the states where I operate?

    • No. If a merchant is legally prohibited from surcharging in one state, Visa’s rules do not prevent the merchant from surcharging in other states that allow the practice.

    • Yes. U.S. merchants that surcharge must disclose the surcharge dollar amount on every receipt. In addition, disclosures indicating that a merchant outlet assesses a surcharge on credit card purchases must be posted at the point of entry and point of sale/transaction. The signage will be provided digitally by PayKoncept.

  • Q. Does the ability to surcharge apply to merchants globally?

    • No. The rules discussed in this Q&A related to the surcharging of credit cards apply to purchases made in the U.S. and U.S. territories only.

  • Q. Am I required to tell Visa/MasterCard if I am going to surcharge?

    •Yes. Only Visa and MasterCard, require that you provide a 30 day written notice that you plan to surcharge. We will notify the VISA/Master card at the time of your completion of application.

  • Q. Which types of transactions are eligible for Surcharge

    •In-person, Ecommerce. Moto

  • Q. Will I have to collect and pay surcharge to the processor at the end of the month.

    •NO, Surcharge will be deducted from the customer's card and deposited to the processor in real time. The only amount you will see in your deposit will be the amount of sale before the Surcharge.

  • Q. Does surcharging create a tax liability?

    • As the Surcharge is directly deposited with the processor, the merchant does not have liability for the surcharged amount.

  • Q. Am I able to switch back and forth between surcharge and traditional sale.

    •No, you are not able to switch between transactions. But you are able to discontinue the program and move to traditional processing at any time.

  • Q. I am a merchant who intends to surcharge. What is the process I need to follow?

    • U.S. merchants that intend to surcharge are required to: Notify Visa and Mastercard y at least 30 days in advance of beginning to surcharge.

  • A notification form to Visa and Mastercard can be submitted at

    https://usa.visa.com/Forms/merchant-surcharge-notification-form.html

    https://www.mastercard.us/en-us/surcharge-disclosure-webform.html

  • Paykoncept is a registered ISO/MSP in association with Fifth Third Bank, NA

All rights reserved - Copyright © 2020 PayKoncept

Paykoncept is a registered ISO/MSP in association with Fifth Third Bank, NA

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