In June, LEVERAGE Payment Solutions (LPS) underwent a mandatory CVN18 card chip upgrade. The upgrade was intended to enhance security for our members; and in doing so, the upgrade also came with additional fees for LPS clients.
“After the LEVERAGE Payments Solutions team became aware of the fee, we immediately engaged with a processing partner, and were able to successfully negotiate a discounted rate for LPS credit unions,” said LEVERAGE Chief Operating Officer Lindsey Cole.
Cole says that client credit unions were anticipating being charged $2,400 to $15,000 each transaction. Because of the LPS team, the fee went down to a flat $1,000, which in part saves these credit unions $176,000.
“As a matter of keeping our word to all of our client credit unions to continuously provide the best service, our solution was to fight for them for a flat, affordable rate that also gets them a safer product for their credit union members,” said LPS Strategic Account Manager Julie Yanes.
LEVERAGE Payment Solutions is committed to providing an unparalleled level of commitment, expertise, and support throughout every obstacle thrown their way.