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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. […]

Razi of CardX contends that surcharging is actually expanding the universe of merchants that accept card payments, which is beneficial to banks and the card networks. He said that the option appeals to some merchants that traditionally refused to accept credit cards because of the costs.

‘Many of these merchants don’t even take cards until they have a chance to pass on fees,’ he said.”

Read the full article here.