April 2011
We receive calls from wineries and the wine industry suppliers who are not clients of Winery Payment Solutions who complain that their rates are increasing …AGAIN! So now they’re looking for a better partner. These rate increases typically happen in April and October when Visa/MasterCard/Discover announce their semi-annual rate changes. Most processors pass along these increases and add a little bonus for themselves to pad their profits. These other processors will put a tiny note on the monthly statement that their rates are increasing and then in a month the client realizes that they’re paying more to accept credit cards. Frankly, if you’re not with Winery Payment Solutions your processor is banking on the fact that you don’t read or even understand your monthly statement.
This April the card associations did announce some increases to their rates which only affect Supermarkets and also a few other insignificant changes to some rarely used card types. Once again, Winery Payment Solutions decided not to increase our client’s rates. We believe that we may be the only credit card processor who decided not to increase all of our client’s rates this April.
Here at Winery Payment Solutions we’re different, we do our best to stop “rate creep” so you know that your rates will not increase. When our costs as mandated by Visa/MasterCard/Discover increase we will pass those along at cost, but we never add anything extra to pad our bottom line, because what’s important to us is your bottom line and your continued faith and trust in us.