RULES AND REGULATIONS
By displaying global pricing adjustments and uniformly assessing a set service fee across all products and payment types, merchants utilizing the Paynada Program meet the standard regulations set forth by all major card service providers, state law and federal law.
A small service fee is assessed on ALL sales regardless of how payment is made including cash, credit-debit cards, gift cards, etc.
As stated in the Durbin Amendment §124.STAT.2073, 9b2 (napcp.org/page/
DurbinAmendment) businesses are permitted to offer a discount to customers as an incentive and to encourage customers to pay by alternative methods other than a credit/debit cards (such as cash) in order to automatically receive a discount which is applied at the time of sale.
As of January 27, 2013 several Card industry changes went into effect with regards to the credit card company’s federal class action litigation settlement. The settlement requires Visa and MasterCard to change some rules for merchants who accept their cards, including allowing merchants to “offer discounts to customers who pay with payment forms less expensive than Bank Debit cards”.
A Customer Notice is Required
Clear and conspicuous signage must be posted at the entrance to the store and at the point of sale. This not only helps accurately explain the program and options available to the customer but keeps you compliant with current laws and card associating rules. We also recommend offering customers a discount when at the register.
Paynada cash discount program automates the service fee process by applying the customer service fee at the time of sale or removing the fee if the buyer pays in cash. Paynada provides register, terminal and door stickers as well as table tents and menu labels to help you stay compliant