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2012-01-05
Verizon Wireless reverses payment processing charge
Verizon Wireless has been forced to reverse its decision to charge a payment processing fee to customers after a consumer backlash.
The US wireless operator retracted its $2 proposed fee for all telephone and online payments, after it received significant criticism from consumers and the Federal Communications Commission.
Verizon's decision to backtrack was made only a day after it announced the fee for one-time payments, a surcharge which was due to come into effect on January 15th.
Payment processing fees have come under mass criticism over the past few months, with the Bank of America recently choosing to make a u-turn on its debit card payment charge of $5 a month.
In the UK, the Office of Fair Trading is currently working with the government to investigate hidden surcharges added on the end of online transactions and looks set to ban this practice by the end of 2012.
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