New York Dual Pricing Program
If you own a business in New York, Connecticut or Massachusetts then Dual Pricing is a must to save thousands in fees! However you need to know the laws to be compliant. Here on this page you will find everything a business owner needs to know to be 100% compliant and have happy customers. We will provide Edge dual pricing payment processing from our partner at North American Bancard.
New York Dual Pricing Smart Card Machines
New York Dual Pricing Will Save Your Business:
Based on a 4% Rate Savings…
| Mo Card Volume: | Mo Savings | 1 Year Savings | 5 Year Savings |
|---|---|---|---|
| $5,000 | $200 | $2,400 | $12,000 |
| $10,000 | $400 | $4,800 | $24,000 |
| $20,000 | $800 | $9,600 | $48,000 |
| $50,000 | $2,000 | $24,000 | $120,000 |
| $100,000 | $4,000 | $48,000 | $240,000 |
| $250,000 | $10,000 | $120,000 | $600,000 |
Many Benefits of Dual Pricing
Here at iSmart Payments, we have a smart solution for your business that will eliminate 90% + of your processing fees. Just imagine how much your business will be saving would be year after year. We do this with implementation of our Edge 0% Dual Pricing processing platform for your business.
Eliminate:
√ Processing Fees.
√ Statement Fees.
√ Per Item Fees.
√ PCI Fees.
√ Batch Fees.
√ Yearly Fees.
Experience:
√ Same/Next Day/Instant Funding Options.
√ No Processing Fees Deducted From Your Account.
√ Simplified Statement.
√ No Contract.
√ No Cancellation Fees.
√ Free Smart Processing Equipment.
Easy To Read Dual Pricing Statements
We Will Provide Dual Pricing Signs
States like New York, Connecticut and Massachusetts require signage to be displayed for transparency and to be compliant. Note, dual pricing is (left) and is 100% compliant and Legal. Right shows adding a fee to the total for card usage is surcharge and is Illegal in those states.
Label Gun With 2 Lines Displays Card and Cash Price:
Compliant with New State Law for Card and Cash Dual Pricing for New York, Connecticut & Massachusetts businesses.
Dual Pricing Capability: Displays both cards and cash prices, ensuring accurate and transparent pricing information for customers. Compliance and Trust: Helps stay compliant with pricing regulations, enhancing customer trust and transparency. Here is the direct Amazon link.
February 11, 2024, new law in New York state, establishing limits and rules for surcharging.
Enacted in December 2023, the new statute has a price disclosure component, detailing how surcharge prices are communicated. The screenshot below is directly from NY . Gov website. For simplification we strongly recommend the last example as this is easy to do with a dual pricing labeling and a payment system that iSmart Payments provides.
Edge Dual Pricing Rate To The Customer = 4%.
A $100 (sale) X 4% = $104 charged to your customers card.
Discount Rate To The Merchant = 3.8461%.
Merchant is billed 3.8461% on the $104 = $3.999944 (= $4 fee) charged to you the merchant which equals the $4.00 billed to the cardholder – merchant amount equates to the consumer amount. $104.00 (settled) minus (-) $4.00 (discount rate)= $100 (merchant net funded)
Included For All Dual Pricing Merchants
Get Set Up With New York Dual Pricing
iSmart Payments offers New York Dual Pricing. Let us hear from you today. Greg
