23 November 2023
Custom surcharging the easy way with Till Portal
Looking to optimise your business' revenue while keeping in line with Australian regulations? This article will walk you through the process of applying custom surcharging using the Till Portal and give you a brief overview of your legal obligations around surcharging.
As a business owner or finance manager, you know it’s critical to remain compliant—for payroll, OH&S or how you manage your customer data. Adhering to Australian regulations for surcharging is no different, and practising transparent pricing will help you avoid legal pitfalls and retain customer trust. Whether you own a small cafe owner or operate a medium-sized retail business, this guide will help you make the most of custom surcharging while sticking to the rules.
Understanding Australian surcharging rules
Before you start applying custom surcharging, it's important to understand the regulatory framework in Australia. Surcharging regulations, governed by the Australian Competition and Consumer Commission (ACCC), aim to protect consumers from excessive surcharges while allowing businesses like yours to cover the costs associated with card payments.
In a nutshell:
When you charge a surcharge for paying by card, the surcharge must not be more than what it costs your business to use that payment type.
If you charge a payment surcharge, you must be able to prove the costs it's based on.
If there is no way for a customer to pay without a surcharge – for example, if your business does not accept cash – you must include the surcharge in the displayed price.
The ACCC provides a comprehensive guide to card surcharges on their website, which you can find here. Familiarising yourself with these regulations is the first step in ensuring compliance.
How to apply custom surcharges on Till Portal
Now, let's dive into the practical steps of applying custom surcharges via the Till Portal. Just follow these 6 simple steps:
Login to Till Portal. You can find the login page here.
Scroll down the menu on the left-hand side and click Self Servicing
Click the Manage Surcharge widget
Select the Location where you want the terminal surcharge update to be applied
Enter the updated surcharge amount
Tick the Acknowledgement box to confirm you understand the update process, then click Update Surcharge
With Till Portal, custom surcharging couldn’t be simpler.
Self Service surcharge updates are only available to blended merchants using Till Portable terminals. Maximum surcharge rates are 3% for card schemes, like Visa or Mastercard, or 30 cents for EFTPOS (if the merchant chooses a set dollar ($) value).
For a simple visual guide to managing surcharges on Till Portal, head over to our Help Centre article, here.
Transparency is a key element in maintaining trust with your customers. It's essential to inform them of any surcharges at the point of sale. Till provides surcharging stands that display the surcharge amount clearly, ensuring your customers are aware of any additional fees they might incur. Failure to do so can harm your brand reputation and lead to customer dissatisfaction.
Surcharge stands come included with your Till Portable welcome pack. If you'd like one for your storefront or venue, submit a stationery request here.
Legal implications & tips to ensure compliance
Non-compliance with Australian surcharging regulations can lead to legal consequences. Surcharging above regulated amounts can result in hefty fines. To ensure compliance, make sure you:
Regularly review and update your surcharge settings to align with current regulations.
Educate your staff about the importance of adhering to surcharge guidelines.
Keep detailed records of your surcharge transactions to demonstrate compliance if necessary.
Strategic surcharging to optimise profit
When applied cleverly in line with compliance requirements, custom surcharging can be a strategic tool for profit optimisation. Here are some ways your business could use custom surcharging strategically:
Tiered pricing: Offer discounts for lower-cost payment methods (e.g., debit cards) to encourage their use.
Competitor analysis: Keep an eye on what your competitors are doing with surcharging and adjust your strategy accordingly.
The Till Portal custom surcharging advantage:
Designed with user-friendliness and convenience in mind, Till Portal makes it quick and easy for you to implement custom surcharges for your business.
With the all new Till Portal you can now apply or update custom surcharges in seconds, all by yourself – without the need for a whole lot of time, phone calls and emails back and forth to your payment provider.
With everything payment related all in one place, key benefits include:
Ease-of-use: The Till Portal is intuitively designed, allowing even those with limited technical expertise to navigate it effortlessly.
Customised: It enables you to create and apply surcharges tailored to your specific business needs, ensuring flexibility and control.
Near real-time insights: The Till Portal provides near real-time data on surcharge collections, helping you make informed decisions.
Strategically incorporating surcharges into your payment processing can help your business reduce transaction costs for profit optimisation. However, you must maintain transparency in pricing to maintain customer trust and comply with Australian surcharging rules to avoid financial penalties. With the Till Portal's user-friendly interface, and everything payment related all in one place, custom surcharge success is never more than a few clicks away.
Disclaimer: The all-new Till Portal is currently available to new merchants only. If you're an existing merchant and wish to request access to the all-new Till Portal, you can submit a request via the Till Help Centre. Not using the new Till Portable for your business but keen to upgrade your terminal fleet? Get in touch here or call us on 1300 369 692.