Discover to Drop ‘No Surcharge’ Ban
Monday, May 1st, 2023Discover Financial Services announced in early February plans to eliminate the contested “no surcharge” rule on Discover card transactions. A spokeswoman for the company said that Discover will notify merchants of this development in June, and the policy will take effect this October.
The no-surcharge rule (which Visa and MasterCard also enforce) prevents merchants from adding additional fees to credit and debit card transactions in order to recoup the costs of accepting those cards. It primarily refers to high-priced rewards cards but could also be applied to lower cost debit cards.
Subscribe (RSS)