Can a company charge more for credit card payments?

Knowing consumer rights in Mexico, as many companies charge “commissions” or “additional charges” ranging from 3-5% of the total purchase when using a card to purchase goods or services. Is important. A service for making payments using a credit or debit card.

Charged more for purchases paid with a credit or debit card violates the contract between the company and the bank that handles the credit card transaction. All contracts regarding the use of point-of-sale terminals clearly indicate that payment of services by credit and debit cards does not affect the cost of goods and services.

CONDUSEF, a Mexican financial regulator, said that this type of practice is inadequate because it conditions the acceptance of credit and debit cards for payment, and it is also annoying to cardholders and financial. We believe that it will prevent the promotion of inclusion.

There is a fee to set up to receive credit or debit card payments for using the terminal, but it also has the following benefits:

  • Starting today, more and more people are buying everyday items and services using credit and debit cards, increasing their potential for sale.
  • Remittance of cash means the risks associated with hiring a company to do it or going to a bank to deposit the sales of the day, thus reducing business costs.
  • Credit or debit card payments increase the security level of your facility by processing less cash.

If CONDUSEF is a victim of this type of practice, it can notify the financial institution processing the transaction, notify the banking institution and report the fraudulent claim, or the Mexican Financial Regulatory Authority (CONDUSEF) (1 800). It is recommended to contact 999 8080). You need to know the name and full address of the store (street, number, city, colony, state, zip code), the phone number of the store, and the percentage of purchases charged as a fee. Can a company charge more for credit card payments?

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