CardX Featured in Bloomberg Businessweek on Credit Card Surcharging
“In Australia, merchants were first permitted to surcharge card transactions in 2003; by 2014, according to the Reserve Bank of Australia, 43% did so. In the U.S., retailers have tried over the past several decades to loosen the rules imposed by credit card companies, but the wins have been few. Federal law has protected cash discounts since the 1980s, but card networks made it difficult to use them until Congress intervened again in 2010. Surcharging became possible only after major credit card companies, attempting to settle antitrust lawsuits, began to allow it in 2013.
More than 200 payment processors, including the giant payroll software firm, Paychex Inc., use software from technology company CardX LLC to provide surcharging capability to professional firms and online business-to-business companies, which incur higher transaction fees.”