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What is Surcharging?

Lockstep

In short, surcharging is a way for businesses to recover the costs of accepting credit card payments. As electronic payments continue to outpace traditional methods of payment, surcharging is a smart and practical way for businesses to recover the costs associated with accepting credit card payments.

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PNC Merchant Services Review 2019, Plus Top Alternatives

Fundera

Let’s explain: Unlike many payment processors, like Square or Stripe, PNC Merchant Services is not a direct processor. This means, although you’re purchasing your services from them, they are not actually the providers of the technology that facilitates the processing of your transactions when they’re made.

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The Best Credit Card Readers for Small Businesses

Fundera

Because these credit card scanners require additional technology in order to work, they fall under the category of credit card reader for phone, tablet, and iPad. Additionally, both require a free card reader app in order to be able to fully process credit card payments for your business.

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Pros and Cons of Surcharging

Lockstep

Using Lockstep your client can opt-in to pay with a credit card or by ACH. For credit card payments, a modest surcharge covering the cost of the transaction processing fee and Interpayments fees will be added. Lockstep Receivables customers now have access to surcharging.