It can be difficult for shop owners and those in charge of businesses that utilize credit card POS software to conduct transactions without recognizing the greater trends affecting cardholders. In the past, the Consumer Financial Protection Bureau (also known as the CFPB) has overseen some aspects of regulation when it comes to credit cards, and last week it was reported that certain guidelines related to the way issues administer fees have been amended.

Specifically, the CFPB has altered a section of the Truth in Lending Act known as Regulation Z in order to allow companies to apply a fee to a newly opened credit card. This was previously unallowable under Regulation Z, which stated that such fees could not be applied within a year of a newly opened card. The official text of the new regulation appears on the Federal Register.

This is relevant news for merchants in that it may impact the habits of customers who wish to make in-store payments with their cards. Whether or not this will generally change the trend of people making use of such cards remains to be seen, of course, but it could affect the way new cardholders spend and approach those who use similar fees in their stores. Companies should consider their own approaches to credit card limits, surcharges and other particular impositions that may stand out to consumers.

Payment processor software may be an entrenched part of commerce in the 21st century, but that doesn't mean that all businesses have to go about it in the same way. As different regulations are enacted that send ripples throughout the industry, it helps to understand decisions that could see eventual changes happening so that proper actions can be taken on their part.