CardConnect Fees and Updates For Payment Processing

Last Updated: 7/20/2024

Our team here at Merchant Cost Consulting is always monitoring the latest interchange fees from payment processors and card networks industry-wide. 

Read on to learn more about CardConnect’s fees, rate increases, and other noteworthy updates that could impact your cost of accepting card payments. 

CardConnect is Increasing CardPointe Gateway Fees and PCI Compliance Fees (Effective July 2024)

CardConnect recently notified businesses of two fee increases:

• PCI Annual Compliance Fee – $259.99 per year
• CardPointe Tokenization Fee – $19.95 per month

Merchants must also complete their PCI validation program. In doing so, they’ll automatically be enrolled in CardConnect’s Data Breach Protection program for the first year. It includes $100,000 worth of protection per incident per merchant account. 

CardConnect Rate Increase (April 2024)

Some merchants using CardConnect received a notice about a rate increase that goes into effect on April 1, 2024.

CardConnect is increasing processing rates by 0.10% + $0.05 per transaction for all Visa, Mastercard, Discover, Amex Full Acquiring, and PIN debit transactions.

We’ve noticed that this rate hike has not been consistently applied to all merchants using CardConnect. But several of our clients were notified. It ultimately depends on the size of your account and the current pricing of your contract.

If CardConnect raised your rates, contact our team here at Merchant Cost Consulting. We may be able to obtain a refund on your behalf and negotiate your rates back to where they were (if not lower them even more).

You can also check out our complete CardConnect review, which explains more about why CardConnect doesn’t always offer the same rates to all businesses. 

CardConnect Rate Increases and Updates (September 2023)

As of September 2023, CardConnect is increasing its discount rates by 0.10% for Visa, Mastercard, Discover, American Express, and PIN debit transactions. 

CardConnect is also increasing Authorization Fees by $0.05 on all Visa, Mastercard, Discover, Amex, and PIN debit transactions.

These changes will appear either on or after September’s month-end statements. 

About CardConnect

CardConnect is a payments platform from Fiserv. 

Founded in 2006, the company provides various payment solutions and technology for businesses of all sizes. They offer solutions for merchant accounts, ISV partners, agents, ISOs, and VARs. 

CardConnect was acquired by First Data in 2017, and then FirstData was acquired by Fiserv in 2019. Throughout the acquisitions, CardConnect has maintained its own branding and products—even though they’re currently a subsidiary of Fiserv.