Credit card

Waukee-based VizyPay Saves Millions of Dollars in Credit Card Fees


Waukee-based VizyPay Saves Millions of Dollars in Credit Card Fees
Illustration: Aïda Amer / Axios

VizyPay Cash Discount Program was one of the winners from last week Best in Biz Award.

Why is this important: The Waukee-based company helps merchants and their customers save a lot of money.

Driving the news: The app has been recognized as one of the gold winners for small and medium businesses in the Biz Awards.

  • The awards program is judged by journalists and editors at publications such as the Wall Street Journal and the Associated Press.

What they say : VizyPay has saved businesses over $ 20 million in credit card processing fees over the past four years, Kyle McCann, the company’s business development manager, told Axios last week.

  • The company had five employees when it launched in 2017 in West Des Moines. It now has around 60 workers and expanded to a larger location in Waukee in September, McCann said.

How it works: Businesses that accept credit card payments typically pay up to 3.5% in fees and processing fees.

  • The app instantly calculates the discounts used to entice customers to pay cash to avoid credit card charges.
  • It costs a business as little as $ 15 per month, but generally generates substantial savings, McCann said.

The big picture: Credit cards are an important tool for businesses, but they can contribute to costs.

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