Looks like theres going to be a nice Christmas party over at Global Payments this year.
Global, who owns TSYS, must be in dire straights.
This is a heavy rate increase.
This is the kind of behavior that makes the jobs of Toast, Spoton, and Square so easy, by the way.
“Hello Heartland POS merchant, did you get pummeled by your processor last month?”
100 bps is wild.
Wonder how they’ll get away with it.
We know: embedded payments.
See, once a merchant is using your software, switching is painful.
Payment bros know this.
One might reach for the aphorism “frog in a boiling pot”, intending to show that processors who own the software can slowly turn up the crank before merchants realize they’ve ceded their entire profit margin to a greedy processor, but honestly these processors don’t even bother with the middle temperatures anymore:
From zero to boil in no time flat.
Check out how it works in practice.
The below statement is from a $3M/mo Heartland POS restaurant.
26 locations.
The poor Heartland sales rep was not only blindsided, but doesn’t even earn on the markups.
This is July 2025.
And this is August 2025.
LOL.
An extra $30K a month because Heartland can.
Payment Authorities sent this our way, and wow, what a time to be alive.
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