Payway Helps a Merchant Return to Original Pricing

How much help, if any, do you get from your current payment solution provider? Here’s an example of how Payway goes beyond your typical payment processor.

Customer: Statewide news publisher

Challenge: A Payway customer received a 275% rate increase to their merchant account without an explanation from Merchant XYZ. Customer called Payway for assistance as they hadn’t been able to get in contact with customer service at Merchant XYZ.

Solution: Payway opened a ticket with Merchant XYZ to inquire as to why the rate changed, kept customer updated on progress along with an explanation to why rates may increase, and presented a case to stop the increase.

Result:  Merchant XYZ dropped rates to original pricing.

Payway always does right by our customers, which is why many have been with us for over 20 years. The following are excerpts from the email sent from a Payway executive to the customer, a perfect example of the attention we give each one of our customers. (Pricing removed to maintain anonymity.)

“As you know, yesterday afternoon I opened a ticket with Merchant XYZ to inquire as to why the rate change. We have not heard back yet.”

“Early this afternoon, we went through records on the Merchant XYZ portal to verify your beginning rate. We are doing what we can to work with Merchant XYZ to get them to reduce your rate back to the (original pricing); this will require some patience as we only learned of the increases yesterday afternoon. Also note, Merchant XYZ will increase rates for any number of reasons including what they deem to be higher risk transactions to volume fluctuations. I am by no means saying that’s what happened, I’m offering context as to why these increases happen.”

“You are a valued customer, and we know this is extremely frustrating. We will continue to engage with Merchant XYZ or alternatively, we can move your merchant accounts to another merchant partner of ours and see if they can do better than the (original pricing). By moving to one of our partners, you’ll still benefit from our automated Level III savings, a significant feature for your organization in regard to advertising transactions.”

“Please let me know which course of action you’d like to pursue. Again, thank you for your patience. I will update you as soon as I hear anything. I am available all afternoon for a call.”

Within a week we were able to get the rates reduced to their original rates. The customer emailed us to express their gratitude.

“Hi Kim.  Just following up on our discussions here.  Merchant XYZ did indeed drop our rates back down, so we are good with what we have for now. Thanks for digging into this and getting our rates lowered.  Much appreciated!”