I think a lot of places just do batch processing of transactions instead of doing them instantly at POS to save on credit card processing fees.That's kinda surprising. I suspect there will be a per-charge surcharge on pay-as-you-go. I work in credit card processing; I believe the main reason for these companies to have balance tracking is because a credit card transaction can cost like 30c+x% or more. Sure, if I'm charging overnight and paying $8-10 that's not a huge slice, but if it's only an hour or two $1-2 has a horrible ROI.
Charging to refill balances reduce processing fees.
Remember it's more accounting work for ChargePoint to carry a balance for you than to charge directly, so there's gotta be a reason to do so... The reason historically is to encourage business owners to put chargers that will be a positive cash flow. So, those credit card processing fees will be passed along. Businesses never pay fees or taxes, it's always passed to the consumer.
Maybe they'll require payment from a checking account to use pay as you go. That was the case for the EZ Pass that I just signed up for.That's kinda surprising. I suspect there will be a per-charge surcharge on pay-as-you-go. I work in credit card processing; I believe the main reason for these companies to have balance tracking is because a credit card transaction can cost like 30c+x% or more.
EZpass is tolls? They might have a larger tolerance for failed payments.Maybe they'll require payment from a checking account to use pay as you go. That was the case for the EZ Pass that I just signed up for.
Yes, it's for tolls. I'm not an expert on it though since there are no tolls in my state. It probably helps that they also capture a picture of your license plate, so they have a different way to charge you if the ACH fails. I guess that wouldn't be the case with ChargePoint.EZpass is tolls?