As a business owner, you may want to pass on the cost of payment processing to customers through surcharging. Surcharging allows you to offset transaction fees, but it’s essential to follow regulations and be transparent with your customers. In this guide, we’ll walk you through how to set up surcharging on your EFTPOS terminal, ensuring a smooth and compliant process.
What You Need to Know About Surcharging
Before enabling surcharging, there are a few important rules to keep in mind:
✔ Transparency is key: You must inform customers about the surcharge before they complete their transaction.
✔ Provide an alternative payment option: Customers should have at least one other way to pay that does not incur a surcharge (e.g., cash, EFTPOS, or debit card transactions without a surcharge).
✔ Fair surcharge rates: Your surcharge amount cannot exceed the actual cost of accepting the payment method to which it applies.
By following these guidelines, you ensure compliance while maintaining trust and clarity with your customers.
Setting Up Surcharging on Your Skyzer Terminal: A Step-by-Step Guide
- Press the FUNC key: This activates the terminal’s configuration menu.
- Enter 8 and press the OK key: This will access the surcharge settings.
- Press the OK key to Enable Surcharging: This activates the surcharge function on your terminal.
- Press the OK key to Enable Contactless Surcharging: This ensures that contactless payments are also subject to the surcharge.
- Enter the Surcharge Percentage and then OK key: Input the percentage you wish to apply to the transaction. Remember, this percentage must be fair and reasonable.
- Enter the Surcharge Minimum Amount and then OK key: Specify the minimum amount a transaction must be for the surcharge to apply. This helps avoid surcharging very small transactions.
Once you’ve completed these steps, your terminal will automatically apply surcharges to applicable transactions.
Tips for Surcharging Success
- Communicate Clearly: Use clear and prominent signage to inform customers about your surcharging policy.
- Provide Alternatives: Always offer customers at least one alternative payment method that does not incur a surcharge.
- Keep it Simple: Avoid overly complex surcharging structures that can confuse customers.
- Review Regularly: Regularly review your surcharging policy and adjust it as needed to reflect changes in processing costs.
Remember: Surcharging is a business decision. Carefully weigh the benefits and drawbacks before implementing it. By following these steps and adhering to the relevant regulations, you can implement surcharging effectively while maintaining a positive customer experience.
Still Unsure?
💰 Reduce Business Costs – Cover the cost of card processing without cutting into your profits.
📢 Full Transparency – Customers are informed before they pay, avoiding surprises at checkout.
⚖ Stay Competitive – Keep your product pricing attractive while ensuring transaction costs are covered.
If you have any questions or need further guidance on surcharging, don’t hesitate to contact the Skyzer support team or review our article on the pros and cons on surcharging. We’re always here to help you make informed decisions for your business.
For further clarity, check out the Commerce Commission’s advice on how to appropriately apply surcharge in New Zealand.
If you currently looking into adding surcharging, watch our YouTube video below:
By setting up surcharging correctly, you can manage payment costs while maintaining a positive customer experience. Happy selling!
