Just adding my 2cents here...
We just received an email from verotel as well - they're essentially at the bottom of our cascade stack - which sounds to me like they're hiding behind some supposed new requirements by MC. They're basically saying "if you process less than x amount per week, then you have to pay us more".
Now, as stated, we don't process a lot of sales through them. We used to but ever since they came pointing the finger at us regarding fraudulent transactions while approving signups that are so obviously fraudulent, we have dropped them to the very bottom of our cascades.
Also, as stated above, they claim this is a new requirement from MC, and yet don't link to or show where these new requirements can be found.
If a payment processor is going to play the shit rolls down hill game, then they need to provide information as to where these new requirements come from.
Here's the email we got:
Quote:
Dear merchant,
You have been a beloved Verotel merchant for
the last couple of years and we thank you for that!
During the last couple of months, the credit card
companies have imposed new rules and regulations
regarding transparancy.
That is why Verotel needs to register every single URL and
every single merchant with the credit card companies and
affiliated Web Crawling Agents. The credit card companies
are now charging us registration fees for these registrations.
Because of our location in Europe we are one of the first
internet payment service providers in the industry imposing
these new changes. Others will follow. Shortly after summer
(September 15th) the new registration requirements will
go into effect globally ? including with our US competitors.
More information about the Account Type changes can
be found on our website at
http://www.verotel.com/accounttypes
These changes have the following implications:
* we need to register you, as a company and individual,
with the credit card companies.
* we board your account under a new service name:
Verotel Premium. This is the new name for your type of
accounts from May 1st onwards.
---------------------------------------------------
As a result of our investigation we found out that
your account has less than EUR 1000.00 revenue
per week.
Currently you have flexible pricing - that means
that the rate you pay to Verotel is determined by
your weekly volume.
With the size of your volume and the flexible pricing
in mind we cannot afford to pay for the MasterCard
registration fees. That is why we give you two options
to select from.
You do have some time to think about these two
options - we would like to know your decision
before June 1st - you can choose from May 1st onwards
in the Verotel Control Center.
------------------------
1. Verotel Premium
Keep your current account and your current flexible
rates. Your rate will go down if you do more transactions
with Verotel.
All Verotel Premium accounts that have a weekly
volume of less than EUR 1,000 will be subject to a
Weekly Fee of EUR 25.00.
This Weekly Fee of EUR 25.00 is used to compensate
all registration fees.
In any given weeks that your Weekly Volume exceeds
the EUR 1000.00, the Weekly Fee will be waived.
------------------------
2. Verotel Basic
Convert your account to a Verotel Basic account. With
a Verotel Basic account you are subject to a fixed
Verotel rate of 15%.
However, Verotel Basic does not have a Weekly Fee.
Because you process on average more than EUR 100.00
per week with your account you do not have to pay
the annual registration fee of EUR 500.00.
---------------------------------------------------
* the new Verotel Account Types will be introduced
on May 1st 2012. We are currently preparing our
systems and back-end technology for this.
* any weekly fees will be charged from June 1st onwards.
---------------------------------------------------
More information about the Account Type changes can
be found on our website at
http://www.verotel.com/accounttypes
Please note that the Weekly Fee is a fee per Verotel
account; not per website. So if you have websites
elsewhere please consider the possibility to add
these website(s) to your Verotel portfolio.
We have also the option to create an 'umbrella
account' that allows you to combine Verotel IDs
into one account.
---------------------------------------------------
We hope to continue to do business with you.
You will be able to select your decision from
May 1st onwards in the Verotel Control Center.
At that time we will ask you to make your selection.
Kind regards,
Verotel Merchant Services BV
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What I find truly ironic is the claim they make regarding new transparency requirements from the 'credit card companies' and yet they are being anything but transparent.
Not like we actually care all that much considering we hardly send any sales through them anymore, but at the end of the day, this just sounds like a money grab to me.
Also, I thought the cc companies already required merchants to submit every single website to them for approval?