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📣 We have an important announcement to share with you 📣
Starting May 1st, 2024, we will be implementing Credit Card Processing Fees for transactions made in our clinic and online. We understand that changes like these can raise questions, so we wanted to take a moment to explain why we've made this decision and how it impacts you, our valued patients (JaneApp users).
A 1.5% charge will be added to in-person credit card transactions and a 2.85% charge will be applied to credit cards processed through JaneApp.
Figure 1: The above graphic demonstrates an example of the different types of fees applied to credit card transactions.
As a young, local, small business, we face various challenges in today's economic landscape. One of these challenges is managing expenses, particularly as we navigate rising costs. Among these expenses are the fees imposed by credit card companies on each transaction. Did you know, these fees can reach up to 3% per transaction? Depending on factors such as the card company, card grade, and processing method, the surcharge added to merchants like us can vary.
To put it simply, every time a customer pays with a credit card, a portion of that transaction goes towards covering these processing fees. For a small business like ours, these fees can quickly add up and eat into our already tight profit margins. That's why we've decided to introduce Credit Card Processing Fees.
Figure 2: Above is a screenshot from Jane.app website describing the difference between in-person and online payments and why it affects the cost. Click on the picture for more details.
When you choose to pay with debit, e-transfer, or cash, you help us save on these processing costs, allowing us to continue providing you with the quality products and services you love.
But why should you care about these fees? Well, it's all about sustainability. By introducing these fees, we're taking proactive steps to ensure the long-term viability of our business. When you choose to pay with debit, e-transfer, or cash, you help us save on these processing costs, allowing us to continue providing you with the quality products and services you love.
Effective May 1st, 2024, here's what you can expect:
A 1.5% charge will be added to in-person credit card transactions.
A 2.85% charge will be applied to credit cards processed online through JaneApp.
We've opted for a more patient-friendly approach by introducing percentage-based charges instead of flat fees for each transaction. These charges will appear separately on your Jane App invoice, broken down into smaller increments to apply a percent charge. By breaking down these fees into $5 and $20 sums and categorizing them based on transaction types, we ensure transparency and accuracy in the billing process. The fee structure is as follows:
In-Person Fee: 8 cents per $5 and 30 cents per $20.
We understand that change can be challenging, and we want to assure you that we've carefully considered this decision with our customer's best interests in mind. We remain committed to providing you with exceptional service and value, and we appreciate your continued support as we navigate these changes together.
Thank you for your continued support,
The Tula Team ❤️