what is a convenience fee at a restaurant
These restaurants that charge you a 3% convenience fee is a slap in my face. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. You may be charged convenience fees when shopping online or making in-app purchases on your phone or tablet. MORE: See our list of cheapest credit card processing companies for small businesses. This is essentially a convenience fee that helps DoorDash continue to operate and maintain its platform. Its perfectly legal in all states for merchants to offer discounts and other incentives for those who dont use credit or debit for their purchases. Sarjana Food Mart - Taman Ukay Perdana . Before becoming an editor, she was NerdWallet's authority on taxes and small business. Answer a few questions to match your business with our selected payment partners. A convenience fee is a small charge the merchant adds to a transaction when a customer chooses to pay with a credit card rather than a preferred standard method such as cash or ACH. Each credit card company has its own rules, and they all encourage merchants to speak to their card acquirer when considering adding a convenience fee. The service fee is usually around 10% or 11% of your order . Though merchants can make their own rules about whether they will impose a processing fee on their customers, theyre limited in what they can do. Surcharges have been outlawed in 10 states, which are California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma, and Texas, plus the district of Puerto Rico. Check your agreements to understand exactly how the rules apply to your business. Would you like to use cash or another form of payment?". Receive payments from all over the world. They only think of how the credit card is a convenience, but it hurts. PaymentCloud has an excellent track record for service quality, support, and fair pricing. Many or all of the products featured here are from our partners who compensate us. Ill walk you through the basics, how they differ from other charges, and the pros and cons of implementing them for your business., A convenience fee is an additional charge added for customers paying with alternative, non-standard payment methods. GSA SmartPay. However, you can sometimes pass credit card fees to a customer instead of having to absorb them as a cost of doing business. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Now, in her spare time, she plays frisbee with her Mini Australian Shepherd dog. Square and Clover, for example, allow merchants to set up a convenience fee, service fee or other surcharge and then dictate which transactions meet the criteria. These allow you to help offset the cost of processing these non-standard methods, while also providing an easy payment option for customers. The customer is charged for the privilege of paying in an alternative way. Visa: Allows for convenience fees only if the payment is through an alternative channel, such a by phone or online, and the business first notifies the consumer, and that the fee is a flat rate, not a percentage of the sale. based convenience fee, the entity that is considered the merchant is at risk for being cited for being in violation of Visas rules. Offering alternative payment methods for your customers can help bring in a wide range of business, but with it come additional fees, hassles, and risk. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. When a service fee is charged, you'll likely see a note explaining its purpose directly on the receipt or menu. Why do merchants charge convenience fees? Here's what the research says about this nutritious and versatile type of food. In most cases, your best bet would be to switch to a different form of payment, such as cash or check, if possible.[1]. ingredients, kitchen supplies, heat, gas, oil, staff. Customers are willing to pay for ease and convenience. The credit and debit card companies charge the convenience fees to the taxpayers, because 6311(d)(2) prohibits the IRS from paying convenience fees for tax payments made through credit and debit cards. Generally, a surcharge is added to a product or service's regular price when a customer pays with a credit . Generally these will be between $2-15 dollars, but it depends on the industry and the service provided. Ana Gonzalez-Ribeiro, MBA, AFC is an Accredited Financial Counselor and a Bilingual Personal Finance Writer and Educator dedicated to helping populations that need financial literacy and counseling. This is why it may appear on your bill. A surcharge is not the same as a convenience fee, though they are often confused with each other. When listed among other charges, it can be confusing to understand what exactly . She is a FINRA Series 7, 63, and 66 license holder. The new restaurant and bar is the latest Las Vegas venue to ding customers with the deplorable CNF charge, also known as the "Concession and Franchise Fee.". They can help you follow all the rules from the credit card companies as well as tell you how much you can charge for the fee. Convenience fees can be a fixed dollar amount or a percentage of the transaction amount, usually 2% to 3%, and must be disclosed to the consumer in advance. The average credit card processing fee is between 1.5% and 3.5%. Heres how to accept credit card payments, About the author: Tina Orem is an editor at NerdWallet. Her informative articles have been published in various news outlets and websites including Huffington Post, Fidelity, Fox Business News, MSN and Yahoo Finance. According to Sean, the cost of delivering food to customers is more expensive than you might think. Find out what weve been up to. There is one sure way for merchants to recoup credit card charges, and that is by passing the cost down to customers, either via surcharges or convenience fees. App Store, Apple and the Apple logo are trademarks of Apple Inc. Self is a venture-backed startup that helps people build credit and savings. Mastercard. Your restaurant only covers online payments at 2.75% + $0.30 **. Hsin-Wei is a freelance writer focused on small business and technology writing. These bans have come into question as some courts argue that they limit a business's freedom of speech. Cooking Ingredients. . What are the Costs Involved in Using a Credit Card? But, unlike the credit card networks, Nacha hasnt provided guidance on convenience fees. It may be time to start looking more closely. The average credit card processing fee is between 1.5% and 3.5%. The IRS will accept credit card payments through several different payment processing companies, and they all charge convenience fees, as allowed by the credit card companies. An operation that stores, prepares, packages, serves, or vends food directly to the consumer or provides food for human consumption: Examples include a restaurant; satellite, commissary or catered feeding location; catering operation (if the operation provides food directly to a consumer or to a conveyance used to transport people); market . Delivery fee: This fee varies by restaurant, though it usually starts at $1.99 and rarely exceeds $5.99. Learn more. A convenience fee is a fee that a merchant charges a customer for paying in a manner that's not standard for the business (for example, by mail or over the phone with a credit card). While it's not pleasant to pay an extra charge, delivery fees are the price of convenience. The details of Visas convenience fee rules can be found in the Visa Core Rules and Visa Product and Service Rules on Visas website. Domestic (meaning within India) INR300. View our open positions and apply today. NCSL's experts are here to answer your questions and give you unbiased, comprehensive information as soon as you need it . Tuition and school-sponsored room and board for elementary schools, secondary schools, colleges, universities, and professional schools. ), Connecticut State Department of Consumer Protection, Just getting started? Fees with names including "noncash adjustment," "fuel surcharge," or "kitchen appreciation" have been popping up on checks, The Wall Street Journal (WSJ) reported Thursday (June 2 . is a convenience fee thats only for certain types of education and government merchants. If you're feeling the crunch of inflation, try these 10 expert-approved tips to save on groceries, and avoid dealing with a convenience fee after your next meal altogether. Some merchants may use convenience fees to offset the cost of merchant fees on credit card or debit cards transactions. Fee must be a flat or fixed amount, regardless of the value of the payment due. Select options. Can you charge your customers a convenience fee? convenience fee to taxpayers who pay income taxes electronically with a credit or debit card. Deliver time: Now. However, credit card associations Visa and MasterCard are members of the associations. Still, DeGennaro isn't persuaded that credit card processors would promote convenience fees as a way of wooing business, since there is a danger of restaurant owners mishandling the surcharge. But they have to be a flat fee (say, $2 per transaction) rather than a percentage of the transaction amount (such as 2% of the total). Find out more about how we use your information in our privacy policy and cookie policy. Ryan Lane is an editor on NerdWallets small-business team. Movie theaters usually sell tickets at the box office. If this fee irks you, it's easy to avoid. What Is a Convenience Fee at a Restaurant and Should You Be Paying It? There are additional electronic data security standards that you may have to adhere to. If you do not wish to pay this fee, please click cancel below to return to the previous page. What are surcharges and can restaurants implement them? Some payment networks have their own rules and guidelines when it comes to assessing convenience fees and surcharges for the different card brands. The article suggests that you can pay your taxes with a Discover card but you typically will have to pay a convenience fee in a percentage form or a flat rate form. DoorDash has raised fees for diners in nearly a dozen cities and counties in an effort to offset limits on what the company charges restaurants, frustrating consumers and angering officials. An important thing to remember when adding this fee is that your customer must have the option of paying by cash or check to avoid this fee. Average Credit Card Processing Fees and Costs in 2021,. American Express: American Express's policy does not include convenience fees nor surcharges. One such way is to use a convenience fee, but this method can only be used when there is another standard way for the customer to pay. "Surcharges." Your point-of-sale, or POS, system should have instructions on how to implement a convenience fee for certain sales. These "interchange fees," also called "swipe fees," are often calculated as a percentage of the amount you purchase. What Is a Convenience Fee and Should You Charge One? In California and New York, opposition to the potential regulation or prohibition of processing fees has gone all the way to the U.S. Supreme Court. In contrast, a credit card surcharge can be applied to any credit card payments standard or not as a way for you to offset processing fees., Convenience charges are generally allowed by law in most places, whereas there are more restrictions on credit card surcharges. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Mastercard. As a practical matter, convenience fees seem to be most commonly applied to payments such as utilities, rent, tuition, government fees (e.g., motor vehicle registration fees), and even taxes. It can be applied to all credit card payments for a specific card or to specific categories of products. Processing fees, such as surcharge fees and convenience fees, were banned in Colorado, Massachusetts and Kansas before 2021, but now merchants can charge them there. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. If youre a service business and wish to charge a service fee instead of a convenience fee, Visa does allow such charges for some MCC codes. 1. Click here to get started now! Discover: Discover's policy also does not include convenience fees nor surcharges. On a $20 purchase, that's $0.30 to $0.58 on processing fees. Most ACH payments run through the ACH Network operated by Nacha. So how do we make money? Likewise, if the merchant imposes the fee without telling you, then you may also file a complaint with the Consumer Financial Protection Bureau or related agencies. Do you charge a convenience fee? However, this practice is regulated by both state legislation and card networks. The Smart Merchants Guide To Credit Card Machines & Terminals: What Do Small Businesses Really Need? According to the National Restaurant Association, the safety measures restaurants have had to put in place during the pandemic cost each business around $10,000 on average. But restaurants aren't the only places where you might get hit with a fee! A perfectly good rooftop bar . Below, we will go through the rules implemented by Visa, Mastercard, Discover, and American Express so you can have a better idea of what you might have to do to charge a convenience fee. What You Need To Know. With completely transparent per-transaction rates, its easy to keep track of all your payments. Save money on credit card processing with one of our top 5 picks for 2022. Plus, we'll let you know which credit card will cause you to pay the highest fee. Pay Your Taxes by Debit or Credit Card or Digital Wallet,, Visa. She has been an investor, entrepreneur, and advisor for more than 25 years. The Credit Builder Account, secured Self Visa Credit Card, and Level Credit/Rent Track links are advertisements for Self products. (Note we cant find the Merchant Operation Regulations on Discovers website, so we cannot verify how current the rule might be. . Merchant Class Settlement Mastercard Frequently Asked Questions Merchant Surcharge. To receive $100.00 from this credit card payment, you need to add a convenience fee of $3.30. What Is a Convenience Fee at a Restaurant and Should You Be Paying It. For example: Transaction fees such as convenience fees and surcharges are fees levied by merchants to help offset the costs associated with credit or debit card transactions. The payment processor payUSAtax charges a flat $2.55 . Get a quote and cost analysis today. Convenience Fee VS Surcharges. This means that the rule might not be uniform. Use of this site constitutes acceptance of our, 10 "Polite" Restaurant Habits You Don't Realize Are Actually Rude, which range from 1.25% to 3.3% of each transaction. You're likely familiar with extra charges for . Typically around 3%, according to the Los Angeles Times, the service charge is meant to go toward benefits like insurance and health care for employees. The types of transactions that incur a convenience fee vary by state law and the payment network. Credit or Debit Card Surcharges Statutes,, The Ascent. With secure online transactions, a user-friendly dashboard, and simple onboarding process, Pay.com makes payments simple. Charging your customers a convenience fee could help you recoup some of these. In the United States, credit card convenience fees are legal. A convenience fee is charged by a seller when the customer uses a credit card instead of a standard form of payment accepted by the business, such as cash or check. Ryan is located in Rochester, New York. Disclaimer: Self does not provide financial advice. Though the convenience fee is collected directly by the business, it goes toward offsetting the fees they are charged by credit card processing companies. Section 5.6.2 addresses convenience fees, and it was last modified in 2020. Were on a mission to create an all-inclusive economy with an emphasis on simplicity. Customize your checkout to match your brand. In fact, it seems you cant find out the precise amount you can charge without working with your processor. All you need is 5 ingredientsaside from pantry staples like salt, pepper and oilto make one of these delicious meals. Visa has the most thorough policy on the subject, while Discover and American Express are rather vague and rely on broader rules that apply to how merchants accept card payments, period. The minimum purchase amount can vary from business to business, and some may even offer a cash discount if you avoid using a credit card all together. What is the IRCTC's convenience fee or service charge? However, the restaurant is charged a processing fee on the total charge paid by the customer, which includes the subtotal, tax and possible convenience fee. Total credit card processing fees for merchants range from 1.15% + $0.05 to 3.15% + $0.10 in interchange fees plus an additional 0.14% to 0.17% in assessment fees. Consent to the use of Electronic Documents and Signatures, Experian. Generally, where a convenience fee is allowed (US, Asia Pacific), theres no strict wording requirement for the notice itself. Take a look at the term once again. Convenience Fees. Ashley Hague is a B2B writer based in New Zealand. Home Care Supplies. After being busy for so long, I always want to find a corner to find a place to disarm, come and enjoy quiet drinking and camping, listening to insects and birds and smelling the fragrance of mountains and forests. Will customers pay extra just to have a non-standard way to pay for goods and services? A convenience fee is a fee that a merchant charges a customer for paying in a manner thats not standard for the business (for example, by mail or over the phone with a credit card). The fees can . Accessed Sept. 30, 2021. Heres how convenience fees work, whats generally allowed and what to know. We have a good article on surchargeswhat they are and how to implement themso be sure to check the article out as you consider your options. They include: Finally, Mastercard recommends that the convenience fee be charged separately from the actual payment. 4.4. Convenience fees are charged by businesses to cover the cost they pay to. Charging your customers a convenience fee could help you recoup some of these credit card processing costs but only if you dont sell solely online and you follow a card issuers rules. These 5 Great Providers Are The Solution, The Complete Guide To Cancelling Your First Data Merchant Account & Finding A Better Credit Card Processor, Friendly Fraud Survival Guide: How Small Businesses Can Reduce Their Chargebacks & Save Money, The Complete Guide To Credit Card Networks: Visa, Mastercard, American Express & Discover. The total cost of credit card processing for a restaurant owner is anywhere from 2 to 4% of the total amount of each transaction. Accessed Sept. 30, 2021. If you charge a convenience fee for American Express, Discover, and Visa, then you must treat Mastercard in the same way you treat these other cards. However, like convenience fees, there are some card-specific rules on surcharges as well., If you want to impose a convenience fee or a surcharge, be sure to check your local laws to ensure legality, as well as understand the specific card network rules.. That may include credit cards. There are really only two options when it comes to convenience fees; either to pay the fee or to use another form of payment, such as cash. A convenience fee is typically a percentage of the transaction amount (usually 1% to 4%), or a small flat fee, and must be disclosed to the customer. But as long as you meet Visas requirements, you should also satisfy American Expresss. They're charged to businesses like restaurants when their customers use a credit card to pay for service or product, and the restaurant passes the cost of that fee on to the consumer. [2023]. In most cases, its perfectly legal for merchants to impose convenience fees or surcharges, but it all depends on where the transaction occurs. If you only sell online, you cant charge a convenience fee. Click here to find out how you can accept credit card payments on your website., Convenience fees can be great for making up some lost business expenses, but they can also be a hassle and can turn off customers. Just be sure to fully understand the card network rules for implementing them and find a balance between your financial interests and customer value., Whether you add convenience fees or not, Pay.com can help you sort out all your payment methods in one user-friendly dashboard. "Mastercard Rules - 11 December 2020," Page 124. Can Your Business Charge It? For example, companies sometimes allow you to make a payment in person or by mail for free but charge you a fee for the convenience of taking your payment over the phone or online. If you wish to charge a convenience fee for ACH payments, we recommend you work with your processor. She has been a financial writer and editor for over 15 years, and she has a degree in finance, as well as a master's degree in journalism and a Master of Business Administration. It depends! The three-judge panel affirmed a lower court finding . (Doing so would amount to adding a fee for non-cash payers at checkout. Before becoming an editor, she was NerdWallet's authority on taxes and small business. You may be able to charge a convenience fee if you dont sell solely online and you follow specific rules. Accessed Sept. 30, 2021. See our list of cheapest credit card processing companies for small businesses. You may pay us by [CHECK, ACH, IN PERSON] without incurring this convenience fee. Our concise reference manual includes all the info you need to work with our API. Here is a list of our partners. PaymentCloud is one of our top picks for merchant accounts. Below are the rules of some of the major credit card providers: Mastercard: Allows for convenience fees as long as they used for all transactions and methods of payment. [4], It can be easy to confuse a convenience fee with a credit card surcharge. A convenience fee may be either a small percentage of the transaction's total or a flat fee charged when you use a credit or debit card with the merchant. So, the menu prices are really cash prices. Regulation II (Debit Card Interchange Fees and Routing),, IRS. Connecticut law prohibits a business from charging a customer a surcharge for using one payment type (usually credit card) over another payment type (usually cash). Wishlist. Copyright 2023 Pay.com - All rights reserved. Tina Orem is an editor at NerdWallet. Click Manage settings for more information and to manage your choices. As mentioned in the introduction, adding a credit card surcharge is another way to offset credit card fees. Stay up to date on Pay.coms scheduled maintenance and outages. If you proceed to checkout, you will be charged a convenience fee of [INSERT AMOUNT]. However, for Russia, when taking the fee at a terminal, Visa does have the following suggested wording: Fee Notice: [YOUR BUSINESS NAME] will assess a fee to cardholders for transactions at this terminal. Copyright 2023 Merchant Maverick. Convenience Fees. A surcharge is the ability to charge extra just for the benefit of using a credit card while a convenience fee is for a specific use, such as taxes or tuition, or payment through alternative channels, such as by phone or online. Check out. 9am-5pm CT, Monday-Friday. Credit card convenience fees are mostly charged as flat-rate fees in addition to the product or service price. Advertiser Disclosure: Our unbiased reviews and content are supported in part by. Want all your POS hardware and software in one place? Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. Our partners compensate us. History and food are a source of empowerment to change the narrative regarding nutrition and health across the African diaspora. Types of payments where the payee typically charges a convenience fee include mortgage payments, property tax payments, college tuition, and taxes. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. "Credit or Debit Card Surcharges Statutes." Questions? Just don't bring in a cake, and you won't . An NSF fee or non-sufficient funds fee is incurred when a bank account does not have enough money to cover a payment. A credit card surcharge, also known as a . Lets review: Accepting credit card payments means more costs for merchants. Let us know about your experiences in the comments section! Make informed decisions with detailed reports. Source: The Florida Attorney General's Office. Show Transcript. Credit card fees tend to cost more for merchants due to the heightened risk. In a world where almost all money is in digital bank accounts, paying with a card is a matter of course, and yet a large number of stores and restaurants charge an extra fee to any guest who pays in the most practical manner. Convenience fees raise your effective prices.. Some restaurants even waive the fee. If your business takes credit cards, then you know that you are charged a fee for each payment made with a card. For most businesses, such as department stores and grocery stores, a merchant fee is just a cost of doing business. , or POS, system should have instructions on how to implement a convenience fee for certain sales. Convenience fees are when you charge a fee to customers for the convenience of paying outside of your usual channel (for example, paying over the phone) no matter what payment method they use. When evaluating offers, please review the financial institutions Terms and Conditions. At least that's how it appears but the credit card . Visa doesnt permit convenience fees on recurring transactions or installment transactions, such as subscriptions or monthly fees, but Mastercard and American Express do[0]Fiserv. Just don't raise the fees AND raise the prices, just to help make your . The customer pays this fee in exchange for being able to use a payment method that is convenient to them. Convenience fees are a type of fixed-rate fee that some businesses add to a customer's bill when they choose to pay via a credit card. For this update, we spent some time researching this question but could not find a definitive answer. These fees generally . Keep in mind, though, that because there is no requirement for exact wording, as long as you satisfy Visas requirements in Section 5.6.2 of Visas rules, then you can word your notice any way you want. Coronavirus (COVID-19) Guides & Resources, Gift Card Systems For Small Business Guide: Best Ways To Sell Small Business Gift Cards In 2023, 8 Cheapest Credit Card Processing Companies & Low-Cost Merchant Services, Best Emergency Business Loan Options For Your Small Business, What Is Shopify & How To Use Shopify In 2023. This is called a convenience fee and is charged because some . We don't even get paid by the credit card . Opinions expressed here are authors alone. [2] According to the Federal Reserve, the average debit card interchange fee was 0.51% for all covered transactions in 2020. While you may have thought it was the convenient thing to be paying with a credit card instead of mailing a check or other methods, these fees are becoming common in restaurants too. Convenience fees can help a business cover some of the costs imposed through electronic payment processing. We will explain these rules below and show you how to properly charge a convenience fee. USD10. Lets reinvent financial technology together! Restaurant Business is reporting on an increasing phenomenon: A lot of quick-serve restaurants (that is, largely fast food joints) and delivery services have started charging you for convenience, even if you haven't noticed. "Cardmember Agreement: Part 1 of 2," Page 1. When evaluating offers, please review the financial institutions Terms and Conditions. You can also charge service fees, which are convenience fees just for education or government entities, and they can be either a flat fee or a percentage of the transaction[0]Fiserv. Seeing credit card fees added to restaurant bills in Texas now. Sign up today and get a free card reader! If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. This information may be different than what you see when you visit a financial institution, service provider or specific products site. And now your favorite restaurant can be upfront about charging you more to cover the fee it pays to credit card companies to use their services, and why it's doing so. Send us a note at. It's important to note that a convenience fee is different than a surcharge. Additionally, its important to note that convenience fees also have to be disclosed to customers before the transaction. 60 mins 19.7 km. If youre a US-based business, you can modify the wording above and use something like: CONVENIENCE FEE NOTICE: this method of paying online is provided to you for your convenience. Convenience fees are additional charges that merchants may apply whenever you use a non-standard payment method, such as using a credit or debit card in lieu of cash, check or ACH transfer. Today 10:00-19:00. this link is to an external site that may or may not meet accessibility guidelines. "Pay by Debit or Credit Card When You E-file." Check out Clover for simple, easy-to-use small business point of sale solutions. African Heritage Diet as Medicine: How Black Food Can Heal the Community. Was last modified in 2020 recommend you work with your credit score or from. And 3.5 % match your business with our selected payment partners providing an easy payment option for.! Addresses convenience fees can help was 0.51 % for all covered transactions in 2020 re familiar! Incurred when a bank account does not include convenience fees be different than a is!, property tax payments, about the author: Tina Orem is an on... And professional schools the Florida Attorney General & # x27 ; s fee!: American Express: American Express: American Express 's policy also does not include convenience fees raise... Has an excellent track record for service quality, support, and are not aggregated from user.... Questions merchant surcharge service quality, support, and Level Credit/Rent track links advertisements! Education and government merchants you dont sell solely online and you won & # x27 ; t get...: how Black food can Heal the Community and Visa Product and service rules on website. Networks have their own rules and guidelines when it comes to assessing convenience fees are the price of.... You find discrepancies with your credit score or information from your credit report, please review the institutions... 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You 're looking to save money on processing or to specific categories of products and Signatures Experian! A definitive answer Guide to credit card convenience fees also have to adhere to point-of-sale, POS. Members of the payment processor payUSAtax charges a flat or fixed amount, regardless of the Costs Involved in a... For service quality, support, and you won & # x27 ; s easy to keep track of your... You see when you E-file. to taxpayers who pay income taxes electronically with a for! Practice is regulated by both state legislation and card networks does not include fees. Charged, you Should also satisfy American Expresss what is a convenience fee at a restaurant convenience fee, please cancel... Source of empowerment to change the narrative regarding nutrition and health across the African diaspora charged fee... Education and government merchants merchant Operation Regulations on Discovers website, so we can not verify how the! 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