07/23/2021
This post was written by a point-of-sale dealer who has worked with twenty different processors over twenty-eight years. It explains confusing PCI Compliance fees simply.
Call, text, message, or email for information on credit processing without PCI Compliance fees. 318-617-5561, [email protected].
Credit card fees. This fee, that fee, so many fees!
Credit card processors charge so many fees. Often the fees are never explained when you sign up for credit card processing, and then they are hidden at the bottom of your statement. Worst case scenario, you never receive a statement to see all the fees.
One truly confusing fee is the PCI compliance fee. Adding to the confusion is its timing can be irregular. Sometimes charged monthly, sometimes quarterly, and often annually.
PCI compliance is very detailed and, as a result, puzzling. So, I’ll try to keep it simple. PCI Compliance (Payment Card Industry Compliance) is a set of rules that your processor and you must follow when you accept credit cards. The rules are different by industry and designed to minimize credit card fraud. The fees are related to the cost of following these rules.
Credit card processors charge PCI Compliance fees to merchants (you) to cover their costs for following their rules. Is that fair? Probably not, but some processors will waive PCI compliance fees if you follow particular instructions and use specific equipment. And for those processors, I say, good for you. For the others, I say, come on, stop being so greedy!
Now get one of your statements. You may have to look through a few if your PCI Compliance fee is annual. Call your processor and ask them what you can do to avoid a PCI Compliance fee. If you haven’t received your statement(s), call your processor and have them send them to you. It might be an honest mistake like an old email address or wrong mailing address, but if your processor doesn’t send you your statement, I suggest getting a new credit card processor because you need to know what your being charged.
