Reforming Retail

ReformingRetail’s Payment SOS Series: WTF, Worldpay?!

Not gonna lie, this latest series of price increases from Worldpay might be the steepest we’ve ever seen.

We’re talking about a 0.50% increase on total sales volume out of the gate, not including the additional monthly fees and random other fees.

These statements come from a merchant with multiple locations, each getting a different set of rate increases (further proving, at least in our mind, that unscrupulous processors have a method to their madness on rate increases so as to avoid being easily caught).

To put some teeth to the numbers, if this merchant does $1M in annual volume, Worldpay just pocketed an extra $5,000.

For doing nothing.

Let that sink in.

Rates go into affect this month.

Just further reinforcing our article from last week.

If you’re worried about the score, worry not: Jeff Sloan will find a way to compete.

He’s got his Wheel of Fees and an iron will to win, by golly.

Never count out the Sloanster to create a fee so unique, and so steep that you’ll crap your pants in awe.

God we miss the SOS series.

So much goodness to go around.

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