In this roundtable, Novi AMS's CEO Pete Zimek discusses credit fees that are charged when payments are processed through Novi AMS and how to ask members/website users to contribute to covering credit card fees.
In this Novi Roundtable, we discussed the following topics:
Credit card processing fees
Legality of charging users a surcharge
Novi customer discount on processing rates from QuickBooks Online
Novi donation functionality to allow users to donate to cover credit card fees
Key Takeaways:
There are potential legal implications to automatically charging members/users credit card fees and legal considerations are at the local, state, and federal levels, as well as in merchant agreements.
Novi's donation functionality allows users to opt-in or opt-out of donating a percentage based on their purchase total back to the association.
The donation functionality can be re-labeled by each association so it can best fit their needs and the donation will be logged as a line item.