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A class action lawsuit was also filed, allowing business owners a path to attempt to recoup money they were overcharged. This article includes the official class action website for those who would like to stay on top of deadlines. But first, let’s take a look at what actually happened. What did Discover do? According to …
Discover Class Action Lawsuit for Overcharging Interchange Read More »
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But what does that mean, exactly? In this article, I’ll lay out the Justice Department’s claims and explain how it affects you and your business. Lawsuit Overview The Justice Department’s civil antitrust lawsuit alleges that Visa engaged in unlawful conduct regarding debit card networks. It claims that Visa holds a monopoly in debit card network …
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First of all, I’m referring to the lawsuit formally named In Re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. You may also see it called the Payment Card Interchange Fee Settlement, which should be the return address. It’s a good idea to verify that any paperwork you’ve received matches this information. Unfortunately, there …
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Update: 1/3/2020 I originally wrote about Worldpay’s questionable practice described in the article below back in May of 2019. Then, I spent a good deal of time helping the folks at Reuters understand what was happening in order to expose the deceptive billing tactic. Reuters published its article on the topic in August of 2019. …
Worldpay Potentially Grabbing Millions in Hidden Fees Read More »
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The short answer: yes, when done correctly. The longer answer is that there’s a lot of confusion about the difference between “cash discounts” and “surcharges,” or “checkout fees” and that confusion has led to labeling surcharge programs as cash discount programs. Let’s look at the differences between the two and how you can stay on …
Cash Discounting for Credit Card Fees: Is It Legal? Read More »
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The court heard arguments in early 2018 and ruled in late June. Let’s look at the arguments on both sides and the results of the case. Ohio v. American Express American Express’ merchant agreement includes an “anti-steering” clause that prohibits businesses from encouraging customers to use a lower cost card when they try to pay …
American Express Anti-Steering Supreme Court Case Read More »
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Let’s take a look at what the lawsuit claims and what you can do if you process credit cards through Wells Fargo Merchant Services. Wells Fargo Lawsuit The lawsuit – Patti’s Pitas et al v. Wells Fargo Merchant Services – filed in August 2017 in New York, alleged that Wells Fargo charged unauthorized fees and …
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The executives, who worked for Commerce Payment Systems, are accused of perpetuating a scam against thousands of small businesses and obtaining more than $30 million through overcharging and deceptive tactics. In this article, I will lay out the allegations and show you how to avoid potential scam practices when choosing a credit card processor for …
Avoiding Fraud: Takeaways from the Commerce Payment Systems Scandal Read More »
