Transactions that are processed without meeting all of the criteria set forth by the card associations will incur a surcharge. This means that you might be paying an additional percentage fee. Each card brand determines surcharging independently and adds additional fees if the data is not transmitted exactly as required. In a majority of cases, the surcharge percentage is greater than the base percentage, causing the transaction to cost more than double the stated rate. If the account is not set up correctly, it will cost you more money.

Why didn’t my existing processing educate me?

Surcharging is very profitable for acquirers, so they overlook the processing inefficiencies of their clients. At Velocity, we provide free education and training to all of our clients, providing best practices as well as comprehensive guidance to minimize the impact of surcharging.

Free education and training.

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