Every time your business takes a payment via credit, debit, or the growing number of other cashless options, it pays a fee to process the transaction. At high transaction volumes, those costs can really add up.
Even for a small business, transaction fees can be a substantial burden – but with the right tools and knowledge, you don’t have to carry all (or any) of that cost.
Till's Terminals make it quick easy and seamless to recover some or all of these transaction costs, by automatically adding a surcharge before the transaction is processed.
Adding a surcharge to cover transaction costs
With Terminals from Till, you can add a surcharge to every transaction – both in-person transactions (payments made via a physical card or digital wallet) and remote transactions (for payments made online or over-the-phone).
Set the surcharge type
With Terminals from Till, you can set the surcharge as either:
- a fixed dollar amount (e.g., $1.00 per transaction)
- or a percentage of the total transaction (e.g. 1.5%,)
In this way, you can recover some or all of your transaction costs, every time a transaction is processed.
To enable surcharging on your in-person terminals, get in touch with our friendly support team by completing the form here.
Set different surcharges for different payment methods
To suit the needs of your business, you can set up different calculation methods and different surcharge amounts for different card types, such as Visa, American Express or Diners Club.
The surcharge amount is always displayed on the customer and merchant receipts.
For more information on the do’s and don’ts of surcharging, head to the RBA’s website.
Always advise customers of the surcharge
Customers should be made aware of the surcharge before the transaction takes places. Your Till Terminal will give the customer the option to accept the surcharge or cancel the transaction, offering the customer total transparency.
All transactions at your fingertips
For ease of admin and reconciliation, you can keep track of all transactions and transaction costs on your Till Merchant Portal.
With Till, the whole process of surcharging and transaction cost recovery is seamless for you – and your customer. If there anything else we can help with, please contact us now.