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.