Frequently Asked QuestionsDo you have options to help offset credit card fees?
Yes. We have a new product AscentZeroCost that allows most processing fees to be passed along to your guest (consumer) instead of you or your owners paying the fees. Let’s check out the surcharge FAQs and more details here.
We always recommend that you consult with your legal counsel to ensure that your choice is in line with all federal, state, and local laws, as well.
Here are some additional options:
Ask for Debit Cards
- Debit card rates are considerably lower than normal credit card rates and Ascent passes those savings along to you.
- Merchants that accept Amex are technically prohibited from “steering” consumers to a different payment product, such as debit.
Pass on to the owner all or part of the average credit card cost
- To calculate the average credit card cost, take your total credit card volume and divide it by your total credit card fees.
- You can charge a “booking fee” on every reservation. This can help offset credit card processing fees indirectly by bringing in additional revenue on every reservation. Specific regulations are listed below.
- It must be a fixed amount, not a percentage
- It must be charged on every reservation, regardless of payment method
- You can offer a discount to your guests that use a different means of payment, such as cash, check, ACH, or debit cards. Specific regulations are listed below.
- The discount can be either a percentage or flat dollar amount
- The advertised price MUST be the credit card price
You can charge a “convenience fee” on credit card payments. This gets a little more complicated than the booking fee or cash discount options. The complete list of regulations is below.
- It must be a flat fee (not a percentage)
- It must be associated with a bona fide convenience in the form of an alternative payment channel (not just the convenience of using a credit card)
- It must be charged on all forms of payment within the payment channel
- You must accept some face-to-face credit card transactions AND it can be assessed only on non-face to face transactions
- It cannot be charged by a third party – only by the merchant that provides the good or service to the cardholder
- It must be disclosed as a charge for the alternative payment channel convenience
- It must be disclosed prior to the completion of the transaction with an option to cancel
- It must be included as part of the total amount of the transaction and not collected separately
- It must not be charged in addition to a surcharge
- It must not be charged on recurring or installment transactions
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