I am often asked what is your rate? It’s not about one rate, one needs to look at the sum of the total. Here is another example about another “junk fee”. Monthly Funding Advantage is a made up fee. Also I am seeing a new junk fee called “EMV non-enabled Fee” at a rate of 3 basis points. This fee will hit restaurants that does not have a POS to accept Chip Cards. 

More Junk Fee

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Today’s global economy requires a retail store to offer all of their product at their brick and mortar location and online in one seamless experience.  Consumers expect an easy, streamlined and quick way to find and purchase the products they seek. This includes browsing from all types of devices such as laptops, smartphones, iPads and tablets as well as the ability to apply discounts or receive coupons online.  In order for a merchant to stay ahead of competition, they must be Omichannel Retail ready!  This means combing data from transactions in order to create a customer behavior pattern.

High risk has to do more with the charge back exposure, since the acquiring / sponsoring bank is responsible for all charge backs if a business were to cease business and close for any reason.  A better way to characterize a business as high risk is harder to place