Can someone explain the purpose of digital convenience fees?

Question

I would’ve thought that makes it easier on all parties. Or is this just another way to suck money out of people?

In: 34

Answer 1

Many companies do not write their own payment software. Restaurants, property management, small business vendors and all that would like to manage payments without managing the payment system. They license and implement the payment technology, and those payment technology companies need to be paid for implementing their technology, maintenance, and development. It’s a symbiotic relationship between you (getting an easy payment platform), the vendor (making their products more accessible and not needing in-house software development), and the payment platform company.