myKaarma Payments Surcharging Supports Compliance with New Honest Pricing Laws for Automotive Dealerships

LONG BEACH, Calif., Sept. 9, 2024 /PRNewswire/ -- myKaarma, a leading provider of communication and payment software solutions for automotive dealerships, announced that its myKaarma Surcharge now supports compliance with new Honest Pricing Laws enacted across various states including California and New York.

Honest Pricing Laws, mandate advertised prices for goods or services include all required fees or charges, promote price transparency and protect consumers from deceptive advertising. Dealerships adhering to these laws can now participate in surcharging while ensuring compliance with the latest regulations.

myKaarma's Surcharging Solution allows dealerships to offset credit card processing fees by enabling compliant surcharge capabilities for all eligible transactions, resulting in significant savings. The solution includes payment terminals and supports payment methods including Buy Now Pay Later (BNPL), ACH, Apple Pay, Google Pay, online, and in-store with top-tier reconciliation and reporting.

Key Features and Benefits:

• Immediate cost savings: Tens of thousands of dollars saved monthly from the first month of activation.
• Seamless DMS integration: Eliminates duplicate entry and mistakes.
• Modern payment terminals: Enable payments from anywhere.
• Real-time fraud liability shift: Protection against fraudulent chargebacks through 3D Secure.

"With myKaarma Surcharge, dealerships can feel confident in their surcharge compliance meeting Honest Pricing Laws while transforming their payment processes. Our solution addresses the state requirements for transparent pricing and provides dealerships with a payments experience to stay ahead in a competitive market. The immediate cost savings are just the beginning of the long-term benefits, giving dealership users and the end customer the best payment experience in the industry," said Panos Kotselas, Director of Payments, myKaarma.

The myKaarma Surcharge product is available immediately and is already endorsed by dealerships of various sizes. Dealers who enroll before the end of September 2024 will receive 5 free terminals ($1,500 value); visit myKaarma for details.

About myKaarma:

myKaarma believes a dealer should not have to "do work to do work." Their sophisticated and natural design flow creates effortless, easy, and exceptional interactions. Built upon an industry-leading communication and payment platform, myKaarma delivers good karma for vehicle owners and dealers alike by making the service experience better for all. myKaarma is an advanced end-to-end platform with scheduling, communications, payment, pickup and delivery, video MPI, BDC solutions, and insightful reporting. For more information, please visit mykaarma.com and connect on LinkedIn.

Media Contact:

Laurie Halter
myKaarma Media Contact
Charisma Communications
503-816-2474
[email protected]

SOURCE myKaarma