Worldpay charges, disclosed in fine print, anger small U.S. merchants
NEW YORK (Reuters) - Mark VenHuizen, the comptroller of a family business which sells parts for boat engines in Florida, says he has complained three times to Worldpay Inc since 2016 for tacking on extra fees to process his customers' credit and debit card payments without clearly telling him about it. In the course of several interviews and email exchanges over the past two months, Worldpay told Reuters it had notified VenHuizen in his June 2018 statement that fees for many transactions would increase by up to 0.8%. In its billing statements, it mixes that markup with the card company charges and does not show the specific amount it has added, according to the people and the documents. As a result, when small U.S. businesses, such as VenHuizen's company, Jerry's Marine Service, sign up with Worldpay, they at times end up paying hundreds of dollars more for the service than they realize, the billing statements show. In contrast to Worldpay, JPMorgan Chase & Co's <JPM.N> payment processing unit, for example, said it separately discloses card company costs and its fees in statements to merchants in plans that compare with Worldpay's.