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We at iBill think it?s important that we clearly communicate this revised fee structure to you and what precipitated it. The net effect of the price change is in fact .19% over your current rate (.35% in EU). In turn, we?ve eliminated all ACH (electronic payment) costs and reduced wire fees. It is important to note that this cost is a pass-through expense that reflects a rate increase imposed on iBill from our processors. It is not a change made simply to add revenue to our bottom line.
Regarding chargebacks, the flat fee allows us the ability to better manage chargeback costs on the merchant level, as opposed to charging everyone a percentage across the entire merchant base. Obviously it?s preferable to reduce or eliminate chargebacks and with this fee structure, someone with no chargebacks will incur no expense. We?re happy to work with you to reduce chargebacks any way we can ? that?s an effort that pays off for everyone.
We are committed to providing the best possible service at competitive prices. Furthermore, it is our intention to support your industry and grow this business. You?ll notice that we?ve been as proactive as possible in communicating these changes, making this information known 30 days prior to its effective date. Regardless of the nature of the message, we will continue to improve our communication to our clients.
Pricing changes are an event we would prefer to avoid as much as you but they are sometimes an inevitable function of doing business. We urge you to contact our client services department at 1-866-424-5557 should you require more information related to this announcement.
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