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.

In many ways, as the surcharging option has become more common, technology providers and acquirers alike can focus more on competing through added features rather than pricing.

‘There are a few main ways it will be important to win the features conversation,’ Razi said. ‘Delivering new technologies, new conveniences for merchants and new market opportunities will be’ key.

Automatic compliance for e-commerce payments, new funding technologies, seamless reconciliation and expanding into markets with new surcharging rules should all become parts of the acquirers’ playbook, Razi added.”

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