A registered ISO of Wells Fargo Bank, New York-based Slice Merchant Services aims to help merchants avoid processing fees through its cash discount and credit surcharge programs. However, it also offers conventional processing fees for merchants seeking traditional credit card processing.
Slice offers a no-processing-cost option impacting two types of buyers in order to eliminate processing fees typically paid by merchants:
Slice also offers competitive rates for conventional processing fees, starting from 1.29 percent.
Slice provides a full suite of point of sale (POS) hardware to choose from, including the following:
Terminals involve an EMV chip reader, a cloud-based receipt system, and easy integration with any POS software.
Slice accommodates all credit card types and mobile wallet systems including ApplePay®.
In addition to credit card processing services, Slice offers additional business services including merchant analytics, online restaurant ordering, and gift and loyalty programs.
While merchants benefit from Slice’s 3.99 percent credit surcharge, it may (understandably) not appeal to customers preferring to pay by credit card. However, the law requires that merchants clearly disclose the surcharge before the transaction is completed so customers can’t be blindsided.
Be aware that credit surcharges are not legal in all U.S. states, including the following as of April 2021:
Merchants should also be aware that anyone who accepts credit card payments needs to comply with PCI-DSS rules. Slice provides free PCI compliance validation for all customers with a merchant account with the company.