Dharma Blog

Appalling, but True

Posted in Industry News and tagged with .

Appalling, but True. There is a breaking news story in the payments processing industry that is worthy of mentioning as an example of the negative industry practices (and reputation) that are relevant to our stakeholders. The full story is on the U.S. Department of Justice website, and the gist is that a credit card processor …

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Convenience Fees

Posted in Customer Support, Industry News and tagged with , .

Convenience Fees. Recently we wrote about the various rules and regulations around surcharging customers for credit card processing fees (remember that surcharging for a debit or a prepaid card transaction is strictly forbidden). Now we are addressing Convenience Fees, which are allowed in all states. ​This is a flat or fixed fee that can be assessed in …

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New Partner – Spring Bank

Posted in Dharma's Culture, Social Responsibility.

Spring Bank. Dharma is privileged to announce a new partnership with Spring Bank – a community bank serving the needs of underserved consumers and small businesses in the New York Metropolitan area. In addition, Spring Bank recently became a certified B Corporation, joining a community of companies recognized for socially responsible business practices. In fact, …

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Beware

Posted in Customer Support, Industry News and tagged with , .

Beware. In 2011, Congress created a new watchdog agency called the Consumer Financial Protection Bureau (CFPB), which was charged with oversight of the financial industry in the wake of the 2008 mortgage/banking meltdown.​ The Bureau promotes fairness and transparency to protect consumers from deceptive practices not only in the banking and mortgage industries, but also …

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Call-to-Action

Posted in Dharma's Culture, Social Responsibility.

Call-to-Action. I recently attended my favorite annual conference called Wisdom 2.0, which is billed as the intersection of mindfulness and technology. It seems that a lot of successful tech companies have discovered the value of promoting mindful practices in the workplace, but beyond the scientific and biological benefits of such practices, the greater value is …

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Transparency

Posted in Dharma's Culture, Industry News, Social Responsibility.

Transparency. I have been invited to speak about transparency on a panel that the local B Corp community is sponsoring next week. I don’t know if there is such a thing as an expert on this subject, but I can tell you that I have over 25 years of experience working in an industry that …

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Surcharging

Posted in Customer Support.

Surcharging – part deux. We like to revisit this topic from time to time as rules sometimes change, plus we like to educate new merchants on industry practices. We are often asked about surcharging, which is the practice of passing on the processing fees to customers. First, merchants are not allowed to surcharge for debit …

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