Effective January 27, 2013 as part of a lawsuit from Visa®& MasterCard® merchants in 40 states can add a 3.00% surcharge to their customer's purchase, which will in effect reduce the Visa®& MasterCard® transaction fees to $0.00/100% Guaranteed!
Take for example a transaction in the amount of $100. When surcharging is done, the customer’s receipt is itemized a surcharge amount of up to 3%.
The receipt for example would say
$100 – Items Purchase
$103 – Total
The user is now required to pay all the credit card cards fees.
The merchant receives the entire $100 total deposited into their account and the other fees are distributed automatically to the banks and processors.
There are some things to note: