Surcharges and convenience fees are ways for businesses to recoup some of the money they spend on processing fees. A surcharge is a fee you can add to every credit card purchase made by your customers. A convenience fee is a charge added when your customers make a purchase using a nonstandard payment type.
Both surcharges and convenience fees are regulated by credit card companies and governments, so it’s crucial to tell them apart if you plan on using one. Here’s what you need to know.