1. Why is ClubReady increasing merchant processing rates?
We have absorbed rising costs for several years to support our customers. However, due to recent cost increases from major credit card providers, we must adjust our rates to continue providing high-quality service and support.
2. When will the new rates take effect?
The new rates will be effective March 1, 2025.
3. How much will the rates increase?
Credit card processing rates, also viewed as Transactions Fees in your remit statement, will increase by 5%.
To calculate the new rate, multiply the current rate by 1.05
For example purposes only:
If your current rate is 4.2%
4.2 x 1.05 = 4.41
The new rate will be 4.41%.
4. Will this increase affect ACH transactions?
No, this increase applies only to credit card processing rates. ACH processing rates will remain the same.
5. How can I see the updated rates?
You can view the updated rates on the Transaction Fees tab of your remit statement after March 1, 2025.
Learn more about how to view your Transaction Fees: Understanding Remit Report: Transaction Fees
6. Will the rate increase affect my customers' packages or credit prices?
No, the rate increase does not directly impact your customers' packages or credit prices. It only affects the credit card processing rate applied to Up Front, Products / point of sale (POS), and Draft transactions.
7. What is ClubReady doing to support my business through this change?
We’ve always been committed to providing you with the best products and support to help you grow, and for years, we’ve absorbed rising costs to avoid passing them on to you. This small adjustment allows us to continue enhancing our product suite and services to help your business grow.
8. Who can I contact if I have questions?
If you have any questions or concerns, please reach out to our Customer Support Team at support@clubready.com.