When legacy processors buy technology it’s almost always to turn the crank on the merchant base.
To that point see Card Connect’s latest notice.
After being acquired by First Data, which became Fiserv, it looks like their merchants are getting the short straw.
Card Connect will be increasing rates by 10 bps, cuz, you know, payments.
Fortunately Card Connect won’t be letting those merchants with a 30-day billing delays miss an opportunity to pay 10 bps more for all the increased value they’ll be getting.
And if 10 bps isn’t enough, Card Connect partners can go ahead and add some authorization fees.
Because fair is fair: a gang bang isn’t fun if only one person is doing the banging.
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