Verizon Cancels Plans to Institute $2 Fee for Credit/Debit Bill Pay After One Day
Earlier this week Verizon announced they would be instituting a $2 “convenience fee” for customers paying their monthly bills with credit or debit cards via the Internet or telephone.
The backlash was immediate and fierce. How nice of Verizon to allow consumers the convenience
of paying online. Verizon listened, and announced today they are dropping plans to institute the fee.
To Verizon's credit they did outline seven different payment options consumers could use that would forgo the $2 charge like auto-pay programs, paying via check, and gift cards at local Verizon stores. According to Verizon the charge was proposed to offset the fees credit card companies demand when processing the orders. Perhaps the backlash highlights the high number of customers paying their bills on a month to month basis. Perhaps it's testament to the current economic climate?
More than likely though, it's a testament to a fed up customer base. Consumers are sick of being pushed around by the companies the need. A number of companies this year have attempted to institute fees and raise prices, and the response has been increasingly hostile. Bank of America attempted to institute a $5-a-month checking fee, they were humiliated. Netflix raised prices, while necessary, they completely botched explaining and justifying it to their customer base and what ensued turned into a case study of what not to do when managing a crisis. Consumers are fed up. Many corporations and business owner still don’t get it. Many will never get it.
But, if there is one thing to learn from the backlash against Verizon’s attempt to charge customers a convenience fee for paying bills via the internet it’s this: we consumers still matter.
Source: The Huffington Post