I’ve had to make a small adjustment to my business procedures that I felt you should know about. Boring stuff I know, but here it is anyway.
One of the tools to run my back office charge a monthly subscription for marketing, reporting, and scheduling. The other keeps a small percentage of each credit/debit card transaction. Recently, there have been 2 significant changes to their policies and procedures.
The first change is to add an optional feature that allows me to charge a $3.85 convenience fee per transaction for every credit/debit card transaction. This allows me to pass the cost of processing each transaction on to the customer. I consider those processing fees a business cost and have opted NOT to use this feature, and will continue to absorb these fees.
The second change is that these fees will no longer be refunded by the credit/debit card processing company. This means that if a credit/debit card transaction is refunded, the processing company would refund your purchase price less the processing fee, (usually less than $4), then I would have to manually create a separate transaction to refund that processing fee. The resulting cost to the company would be a minimum of $20 per transaction. To avoid this additional cost to the company, customers will have 2 options, a credit/debit card refund less the processing fee, or a store credit for the full amount of the original purchase that can be applied to any future transaction.
As always, I’m happy to answer any questions you may have.