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The Question
1. Good business decision but bad PR
2. A really dumb move
3. More Fallout from the Bank of America fee debacle
4. Occupy Wall Street moving onto Occupy Telco’s
If you are feeling really ambitious, tell us what you would have done differently?
Your Answers
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Comments
A really dumb move. The cost of processing transactions is simply another cost of doing business. The timing on the heels of the major banks' announcements on debit card fees to consumers and other fee increases was also pretty poor.
Posted by John, 04/01/2012 3:18pm (4 months ago)
A really STUPID move. They should have added $2.00 in somewhere else, gave a discount for check or cash.
Posted by Ted, 04/01/2012 12:40am (4 months ago)
I bet VZW originally wanted to steer payments away from debit & credit cards by passing through a rough approximation of the merchant discount as a typical "convenience fee." But then business considerations added an exception for in-person payments (keep those upsell opportunities) and recurring payments (don't annoy your best customers). The end result was a fee hike so complicated that many customers who wouldn't have been impacted got upset anyway.
Lesson: merchants should steer customers away from higher-fee payment options by using discounts, not surcharges. VZW should have gradually hiked those inscrutible fees at the end of the bill by $1 while offering a new discount to those paying with checks, cash & EFT.
Posted by Bob Schwartz, 03/01/2012 5:48pm (4 months ago)
A really dumb move. Verizon is among the worst for
charging extra and harrasing its users (me) with upgrade
ads that won't go away. Thanks Verizon, I think that $60.00
a month is enough and i really don't care to know what
city I receive calls from.
Posted by Carl Brady, 03/01/2012 5:26pm (4 months ago)
#2. Did they not learn anything from BofA and Netflix?
Posted by Jaki Kackert, 03/01/2012 4:23pm (4 months ago)
2. A really dumb move. A consummate display of arrogance, hubris and stupidity. One might think that even a mildly intelligent corporate management would have seen what happened to Netflix and Bank of America when they attempted to publicly abuse their customers with nonsense fees.
Posted by Jim Wells, 03/01/2012 1:02pm (4 months ago)
Surprisingly dumb move. Verizon is already significantly more expensive than AT&T for most smartphone users ... and why would they want to implement something to slow down the payment cycle for customers many of whom would likely find alternative payment mechanisms.
Posted by Chris, 03/01/2012 12:27pm (4 months ago)
Mostly #1, but infused with #2 (and I mean that both ways)
Posted by George, 03/01/2012 9:52am (4 months ago)
2. a really dumb move. Today, consumers are in charge and demanding more for less. Successful businesses will find a way to meet their interest.
Posted by beth, 03/01/2012 9:50am (4 months ago)
Terrible decision. Will iretard ePayment adoption and nvite further regulation.
Posted by Mike, 03/01/2012 9:36am (4 months ago)
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