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CardX COO Michael Tomko Interviewed by BankBeat

“In the current environment, what businesses want is faster payments, better reporting across payment channels, and lower transaction costs, all of which have led to a significant increase in surcharging in 2020.”

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CardX Featured in Entrepreneur: “Considering Credit Card Surcharging? Here’s What You Need to Know.”

“Many merchants who are eager to get started with surcharging assume that it simply entails ‘adding a fee.’ However, through implementation, they quickly realize that this assumption overlooks numerous requirements or best practices in operations and IT…”

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Built In Chicago: “CardX Is Harnessing Technology to Solve Compliance Problems in the Payments Space. Here’s How.”

“When the credit card surcharging rules were introduced in 2013, allowing credit card fees to be passed onto consumers in most of the country, Razi had two theses: ‘I knew interchange fees were going to continue to be very costly, and I knew that businesses were not going to be able to navigate these rules on their own.’

That’s where CardX, a compliance technology company, comes in.”

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PaymentsSource: “Pandemic losses make merchants more receptive to credit card surcharging”

“With the backdrop of COVID-19, surcharging has essentially become ‘an important tool in uncertain times,’ said Jonathan Razi, CEO of CardX, a company that provides the compliance technology for adding surcharging to a merchant network.”

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CardX in Construction Executive: “Surcharging Helps Preserve Profits in a Troubled Economy”

“Through surcharging, businesses can offer the credit card option without the cost, placing themselves in a strong position to succeed during this crisis and beyond.”

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Built In Chicago Interviews CardX on Managing Security in a Serverless World

“Matt Ivaliotes, a security and IT lead at fintech company CardX, regularly schedules training on new technologies for his engineering team. He also encourages knowledge-sharing through dedicated Slack channels, attending security conferences, and reading industry newsletters to help keep teams on the cutting-edge.

‘Security requires vigilance in all contexts,’ Ivaliotes said.”

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Inbound Logistics Features CardX: “Distributors, Shippers Eye Surcharging to Stay Afloat Amid COVID-19 Outbreak”

“Forty-six states across the U.S. allow surcharging on credit card payments, which especially helps merchants with high average sales and tight margins. For a distributor, with EBIT margins hovering around 6%, a customer using a credit card can eliminate half or more of a sale’s profitability.”

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CardX CEO in Forbes: “Why Businesses Should Consider Surcharging During Uncertain Times”

“In this crisis, businesses are seeing their customers rely on credit more heavily than ever before, which enables customers to finance their purchases, but also drives up processing costs when businesses can least afford it.”

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PaymentsSource Interviews CardX CEO: “Pandemic’s timing could push more merchants to start surcharging”

“Ultimately, Chicago-based CardX, a payments technology company that helps merchants add surcharging at the point of sale and comply with federal regulations, is prepared to provide the needed education for merchants who may see interchange go up for card-not-present and rewards cards next month, in addition to a jolt to revenue from coronavirus shutdowns.

‘A lot of merchants will be looking at the potential savings of surcharging, and it should actually accelerate the move for surcharging becoming part of the market norm,’ CardX CEO Jonathan Razi said.”

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The Strawhecker Group Executive Interview Series: CardX CEO, Jonathan Razi

“… the majority of merchants you talk to still don’t know that surcharging is an option. So we’re actually out there raising awareness. For that reason, with as much traction as we’ve already seen, we are just now breaking into the space. I’d say if you imagine a twelve-round boxing match, we’re in round two.”

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CardX in Digital Transactions: “Surcharging Is Poised to Gain Momentum As State Bans Fall And Acquirers Spot Opportunities”

“Surcharges on credit card transactions could pick up momentum now that only four states effectively ban the practice, a panel of experts indicated Wednesday at a merchant-acquiring trade show. That momentum may benefit not only merchants wary of card-acceptance costs but also merchant-service providers that focus on surcharging as a business opportunity, the panel indicated.”

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CardX Announces Jennifer Hocking as Director of Client Operations

“The solution that CardX brings to the market is disrupting the industry and forever changing the way merchants do business,” said Jenn. “Now that 94% of the United States is open to credit card surcharging, it’s a thrilling time to join the team in a year where process optimization will be key to meet the demands of our growing book of business.”

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CardX Featured in American Banker: “Once banned, credit card surcharges gain momentum”

“‘Now business operators are themselves seeing this proven out,’ said Jonathan Razi, the CEO of CardX, which offers a service that enables merchants to impose surcharges on credit card purchases.

Merchants that signed up with CardX last year will save a total of $24.5 million annually by passing along card fees to customers, Razi said.”

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PaymentsSource Interviews CardX CEO on Oklahoma Result, Market Trends for Surcharging

“‘Probably the biggest thing out of the Oklahoma result, and exciting for 2020, is that it predicts an inevitable makeover coming to payments,’ Razi added, noting that with Oklahoma in the mix, 94% of the country, by population, is open to surcharging.”

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