Phoenix, AZ, October 14, 2019 --(PR.com
)-- SurchX, an ISV that offers a compliant dynamic surcharging solution for card-not-present (CNP) transactions, announces that its SaaS integrated extension is now available for both Magento Commerce 1 and 2 users. Using SurchX, Magento card-not-present merchants can now easily and securely recover credit card processing fees by enabling a transaction fee at checkout. Current SurchX customers are already seeing significant returns.
SurchX’s Certified Magento extension is the only extension in Magento’s Extension Quality Program (EQP) that integrates with SurchX’s SaaS Dynamic Surcharging Solution.
Customer testimonial: “In the nascent and complex world of surcharging, SurchX has proven to be an educational and profitable partner. They’ve proven to be experts on compliance, diligent on their commitments and adept on matters of technology. Through using SurchX we continue to bolster our bottom line with no impact to our conversion rates. We wholeheartedly recommend both the SurchX solution as well as their proficient customer service.” -- Magento customer.
A case study from this Magento customer can be seen here: https://www.surchx.com/surcharging-high-ticket-items/
SurchX accurately calculates the surcharge based on card type and jurisdiction. During checkout, SurchX instantly identifies the payment card in use, what the resulting fee for that card will be to the merchant, and how much the merchant can legally recoup by passing that total on to the customer. The fee is then added to the customer's total purchase price as an additional line item labeled “Transaction Fee” in real time.
With climbing credit card processing fees averaging over 3% per transaction and an increasing number of credit card options for consumers, card-not-present merchants are often forced to choose between staying competitive and raising prices to cover the costs of processing credit cards. The SurchX EQP Certified extension for Magento returns control to U.S. ecommerce merchants, enabling them to lower their cost per transaction without impacting conversion rates, sacrificing service, or falling out of compliance and risking hefty fines.
For businesses with tight margins, savings from SurchX can return as much as 30% of a merchant’s net margin back to their bottom line. Prior to SurchX, there was no way for companies to recover losses from credit card processing fees and be assured of compliance with the 60-plus jurisdictions that govern surcharging in the United States.
“Our promise is to take the compliance risk out of surcharging,” said Robert Maynard, founder of SurchX. “Our positive reception from enterprise and mid-market merchants combined with Magento’s community makes this a natural integration environment for us. We’re proud to bring the power of SurchX to Magento users, helping them turn customer interactions into opportunities to improve margins.”
Magento customers and their Software Integration Partners can download and install the SurchX extension from the Magento Marketplace
For more information about SurchX, visit: www.surchx.com
SurchX is changing the profit game for retailers in the United States. We get every dollar allowed while keeping you in compliance. This can increase your net margin by 30%. Overnight. For free. Powered by proprietary technology, the company’s free surcharging software uses a sophisticated algorithm to empower merchants to recover losses from interchange fees and boost their bottom lines. SurchX identifies card type and jurisdiction rules and then calculates the associated fees. With this information, SurchX seamlessly adds the transaction cost to the customer’s invoice in a fraction of a second. No PCI compliance is necessary, and legal compliance with state and federal regulations is guaranteed.