What This Means for Consumers
- Consumers will pay an additional fee when they use their credit card at retailers that decide to surcharge.
- Consumers should be aware there are limits to the amount merchants can surcharge. *
- Retailers are permitted to apply a surcharge to only credit card purchases and cannot impose a surcharge for purchases made using a debit or prepaid card.
- If retailers intend to impose a surcharge on credit card purchases, they are required to notify customers before customers make an actual purchase at the store entrance and at the point of sale – or in an online environment, on the first page that references credit card brands.
- Retailers must disclose surcharge fees on every receipt – both in store and online. Carefully review receipts where checkout fees should appear.
Retailers Can Offer a Discount for Cash and Check Purchases
Retailers can encourage their customers to use other forms of payment, such as cash and checks, and can discount for PIN debit and cash and checks.