“Unethical Billing” Posts

Are You Paying the Lowest Possible Debit Card Fees?

Are You Paying the Lowest Possible Debit Card Fees?

You may sometimes wonder if the payments industry has your best interest in mind. At PayJunction, we believe in ethical billing, as we’ve outlined in our ongoing unethical billing series. Our goal is to educate the business community about unfair billing practices. In installment 16 of this series, we will expose how some payment providers are not passing on the savings Congress legislated to benefit businesses like yours. A Refresher on The Durbin Amendment The Interchange cost of any transaction is typically proportional to the level of risk associated with it. Since card-present debit transactions verify sufficient funds during…

Unethical Providers Markup Amex Fees

Unethical Providers Markup Amex Fees

Thus far, this series has covered a range of fake fees and markups. To no one’s surprise, some providers also practice unethical billing around Amex fees. Before we dive in, here’s a quick explanation of processing options for businesses that accept Amex. Amex Direct vs. Amex OptBlue American Express is a unique company. It’s not only a card association, but can also provide businesses with merchant accounts to process its cards. Businesses have two options for accepting Amex: Direct or OptBlue. Businesses that process over $1 million annually are required to process directly through American Express via…

Why We Care About Ethical Credit Card Processing

Why We Care About Ethical Credit Card Processing

Read enough about PayJunction’s company culture, and it’s clear we prioritize long-term relationships over short-term profit. That’s not just a nice-sounding statement, it’s what we practice every day with our customers. Since we launched our blog, we’ve largely focused on unethical billing issues. These are the unfortunate, but all-too-common, ways players in the payments space unfairly profit off their customers. Because everyone does it, there’s an assumption among providers that it’s OK. Business owners are left to believe they can’t escape fake fees and hidden markups because they’re the norm. Complex…

Unethical Providers Charge Non-Qualified Interchange

Unethical Providers Charge Non-Qualified Interchange

When this series first launched, we knew we’d be sharing information that was news to most and familiar to others. While some of the unethical fees came as no surprise, we never expected to come across a made-up fee. In part 13 of this series, we discuss a fake fee: Non-Qualified Interchange. Tiered vs. Interchange-Plus Pricing: Recap Tiered pricing bundles transactions into three rate categories: Qualified, Mid-Qualified and Non-Qualified. The level of risk or reward associated with the transaction affects which tier it falls into. Qualified transactions are cheapest, whereas Non-Qualified are the most expensive. Tiered pricing isn’t…