PaymentsJournal Interviews CardX CEO Jonathan Razi
“I founded CardX in 2013 to respond to a new opportunity in the payments industry. New rules allowed businesses in America, for the first time, to pass on the costs created when customers choose credit cards for convenience or rewards.
CardX is a turnkey solution for 'credit card surcharging,' meaning that a merchant using CardX automatically complies with all of the rules required for passing on the credit card fee.
We’re pleased to be leaders in this growing field, and we’re strongly differentiated both by our patent-pending technology and our compliance expertise. In fact, we were honored to be the only solution provider advocating in the U.S. Supreme Court in Expressions Hair Design v. Schneiderman, which affirmed that passing on the credit card fee is protected speech under the First Amendment.
This legal milestone, along with the growing marketplace demand from both merchants and ISOs, is moving America’s payments landscape in the direction of this internationally-proven model. In Australia today, 42% of all merchants are passing on the credit card fee, resulting in lower interchange costs throughout the Australian market. We see this in America’s near future as well.”