ALL CASH DISCOUNT MID'S ON VALOR TERMINALS WILL BE CONVERTED TO DUAL PRICING

All Swipe4Free/Cash Discount MID's on Valor terminals have been converted to Dual Pricing on Monday, March, 27th at 3:00 AM EST. This was done in order to comply with card brand rules and regulations. Signage to the consumer is not required for Dual Pricing.

NOTE: Any previous signage for cash discounting must be removed immediately from the merchant's location, as these programs are not being used and may result in a fine.

Dual Pricing programs don't have to adhere to surcharge rules. With Dual Pricing a merchant can still charge 4% on all card types including debit cards.

This allows you to truly maximize your merchant's monthly savings, while earning an average of 150+ basis points of profit.

Download the attached credit card sticker to use to cover/replace older non-compliant stickers. The sticker is an editable PDF where you can add your contact information. These stickers are also available in our Long Island City headquarters.

USEFUL LINKS:

• Dual Pricing Brochure
• Dual Pricing Merchant Flyer
• CCSalesPro Dual Pricing Agent Training

SURCHARGING COMPLIANCE UPDATE

Starting April 15, 2023 The maximum allowable surcharge for credit card transactions in the U.S. will be reduced from 4% to 3%, per Visa Rules.

Surcharging applies only to credit transactions in the U.S. and U.S. territories.

Debit and prepaid cards cannot be surcharged. Merchants in the U.S., U.S. territories, and Canada who wish to surcharge credit card transactions will only need to notify their acquirers 30 days in advance, not Visa.

Swipe4Free will complete the registration with MasterCard and our Acquirer.

Proper signage and notification are required. Disclosures must be provided at the point of entry and point of sale. Swipe4Free can supply surcharge signage when requested by an ISO.

Merchants can find more information on Visa's Surcharging Guidelines here

NOTE: Currently, Connecticut and Massachusetts are the only 2 states that do not allow surcharging.

Colorado allows merchants to surcharge a maximum of 2% or charge the actual cost the company pays for credit processing.

When the second option applies, the surcharge could surpass the 2% cap.

Failure to be compliant may result in a Visa NCA Fine, and Visa will continue to monitor surcharge assessments and take action when violations are identified.

TERMINAL TRADE-IN PROGRAM

Trade in any working terminal that belongs to any active/processing MID on our platform that is NOT a Valor terminal and receive a $100 credit per device towards any Valor device.

The credit will be applied to your balance sheet as a lump sum payment for each Terminal Trade-In form submitted.

For example, if 5 terminals were submitted on a Trade-In form received on 4/4/23, it will appear on your balance sheet as a lump sum of $500 ($100 per terminal) with a description of “Terminal Trade-In Program - 4/4/23 Submission”.

ISO's/Agents can ship devices or drop them off at our Long Island City headquarters.

NOTE: We recommend returning/shipping your terminals in bulk.

CLOVER CASH DISCOUNTING SOLUTION

Merchants using cash discounting on their Clover devices must install and use the SPS Dual Pricing app in order to be compliant. 

In order to add the SPS Dual Pricing app, merchant's must have the following:

• Inventory loaded on their Clover devices
• The Register Lite plan ($14.95 monthly plan) or Register plan ($44.95 monthly plan)

THE SWIPE4FREE JK POS BUNDLE SOLUTION

Swipe4Free has created a customized POS bundle perfect for all deli/grocery, restaurant, and retail merchants interested in using our Dual Pricing platform. Dual Pricing is 100% compliant and is defaulted into the Swipe4Free JK POS Bundle.

USEFUL LINKS:

• JK POS Bundle Training
• JK POS Flyer
• JK POS Flyer with Suggested Pricing
• POS Integration Form

MERCHANT COMPLIANCE SUGGESTION

We highly encourage all Swipe4Free cash discount merchants that have been converted to Dual Pricing to display both a cash and card price on all items in their place of business to remain compliant with all card brand rules.

Restaurant merchants should display both card and cash prices on their menus.

Retail merchants should either raise all their prices in their business to reflect card prices or display both card and cash prices on all their items.

As mentioned, any previous signage for cash discounting must be removed immediately from the merchant's location as these programs are no longer being used and may result in a fine.