Welcome!

News Feed Item

Fuze Network Guarantees No Late Fees

Fuze Network, a payments technology company, is now guaranteeing that its consumers making credit card payments by noon Central Standard Time on or before the due date will not be charged a late fee. If they are, company executive Dave Wilkes says Fuze Network will reimburse the consumer.

“Hectic schedules, forgetfulness and simple day-to-day activities sometimes interfere with making a bill payment in advance,” said Wilkes. “Consumers should feel confident that no matter what happens during the billing cycle, if they can make a payment using the Fuze reCHARGE™ Network by noon Central time, their payment will post without penalty.”

According to a report conducted by the Office of the Comptroller of the Currency (OCC), the Credit Card Accountability, Responsibility and Disclosure (CARD) Act has curtailed credit card late fees paid by consumers; from $901 million in January 2012, to $427 million in November 2012. However, consumers still find themselves paying $25 for a first late fee violation, and $35 for a second violation within the next six months, according to the Consumer Financial Protection Bureau (CFPB), who holds regulatory responsibility for administering the CARD Act.

“In our analysis of consumer complaints from the CFPB and feedback we've gathered from social media, fees are a huge pain point for credit card customers,” said Steven J. Ramirez, CEO of customer experience firm, Beyond the Arc, Inc. “Customers view late fees as a particular nuisance and are an obstacle in building customer loyalty from the card issuer.”

“Alternative methods to pay a credit card bill take at least two or more days to reach their issuer, and end up costing the consumer an exorbitant fee because they need a quick posting,” said Wilkes. “The Fuze guarantee ensures the customer that their payment – on any credit card type from any card issuer – will post quickly and without penalty.”

Fuze Network’s nominal convenience fee of $3 to process a payment enables cardholders to pay their credit card, deposit cash or load debit cards by swiping their card and paying the cashier. The Fuze reCHARGE Network is available nationwide at thousands of retail locations including Pay-O-Matic, Fidelity Express, the Community Financial Service Centers (CFSC) and ACE Cash Express.

“More than 70 percent of our customers are repeat users of Fuze’s services for their credit card payments,” said Robin Miles, CEO of Pay-O-Matic, the largest financial services chain in New York. “Partnering with Fuze has allowed us to significantly reduce the fee on expedited credit card payments, provide our associates with a faster processing system and offer an affordable credit card payment option for our customers.”

Card issuers will see incentives from the no late fee guarantee in the form of on-time payments and assurance from their customers; building customer loyalty and repeat card usage.

“The ability to make cash payments on a credit card bill isn’t as simple as consumers would like it to be,” said Wilkes. “Our service helps build the relationship between consumer and card issuer – making bill payments a convenient and cost-effective occurrence.”

About Fuze Network

Salt Lake City-based Fuze Network is the nation’s first method to easily send money to any card. The company’s reCHARGE service “fuzes” together existing payments networks to enable users to pay bills, deposit cash or reload prepaid cards by simply swiping the card and paying the cashier. Fuze Network is the easiest, most cost-effective method of increasing retail traffic and building payment transaction volumes. For more information, visit www.fuzenetwork.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today BZ Media LLC has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and Commercial Drone markets.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
Cloud computing changed data analytics for good. It enabled companies to drastically decrease resources and architecture previously assigned with business intelligence departments. It also enabled laymen to run advanced business analytics. Cloud was also the architecture of choice for storing and processing big data. Data piling is a continuous process, which is going to explode with emerging Internet of Things concept. Answer to this issue developers found in new concept called fog computing. ...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...