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Important follow-up to the 3-part article on dubious fees Read those articles again: Part 1 Part 2 Part 3 Several merchants sent in their statements with suspicious fees. Some of the fees were actually legitimate but there were several statements with dubious fees. I think price increases hidden in card company fees (Visa fees for… Read More »
Part 3 – Final Article in Series The purpose of this 3-part article is to educate readers on the most common dubious fees charged by certain credit card providers. Keep in mind, there is a lack of enforced standards in the card processing industry and all providers do not play by the same rules. Therefore,… Read More »
Part Two The purpose of this 3-part article is to educate readers on the most common dubious fees charged by certain credit card providers. Keep in mind, there is a lack of enforced standards in the card processing industry and all providers do not play by the same rules. Therefore, it is possible for two… Read More »
This is part one of a multipart article Merchants need to realize that there are no enforced industry standards defining terms such as “Interchange Plus Pricing,” “Tiered Pricing,” “Pass-Through Fee,” “Access fee,” “Foreign Handling Fee,” and many other terms. Also, all providers do not play by the same rules. Therefore, it is possible for two… Read More »
Heartland Payment Systems, one of the largest providers in the U.S., stated in a press release that it filed a federal lawsuit against Mercury Payment Systems, also a provider in the U.S. According to the press release, the suit is charging Mercury with false advertising, unfair competition, intentional interference with contractual relations, and intentional interference… Read More »
Many merchants think card processing is pretty simple, not realizing how interchange rates (issuer and card association fees, dues and assessments) drastically affect their bottom line. They think the customer’s card information, obtained during an on-line purchase, is sent to one of the card associations — Visa, MasterCard, Discover, American Express.
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