Compliance and Transparency:
Our Commitment to Compliance
At CoCard, we prioritize the security and transparency of our credit card processing services. Our commitment to compliance ensures that all transactions are handled with the highest level of integrity and in accordance with the latest regulations.
New York State Credit Card Pricing and Transparency Regulations CoCard?
Effective immediately, New York State has implemented new regulations to ensure greater transparency in credit card pricing. These changes aim to protect consumers by providing clear and accurate information about credit card processing fees.
KEY CHANGES
Disclosure of Surcharges
Merchants must clearly disclose any surcharges applied to credit card transactions. This information must be provided at the point of sale and on receipts.
Transparent Pricing
All fees associated with credit card processing must be clearly outlined and easily accessible to consumers. This includes any service fees, convenience fees, and surcharges.
No Hidden Fees
Merchants are prohibited from hiding or disguising fees associated with credit card transactions. All fees must be explicitly stated and explained.
Receipt Requirements
Receipts must itemize all charges, including any additional fees applied to the transaction. This ensures that consumers understand exactly what they are being charged for.
Notice of Fees
Merchants must provide clear notice of any fees before the transaction is completed. This notice should be prominently displayed at the point of sale.
How We Ensure Compliance
Regular Audits: We conduct regular audits of our processes to ensure compliance with all state and federal regulations.
Employee Training: Our employees undergo continuous training to stay updated on the latest compliance requirements and best practices.
Consumer Education: We provide resources and support to help our customers understand their rights and the fees associated with credit card transactions.
Clear Communication: We ensure all fees and charges are communicated clearly to our clients and their customers, providing transparency at every step of the transaction process.
Contact Us
If you have any questions or need further information about our compliance practices, please contact our Compliance Officer at (888) 959-9584 or click the button below to get started!
