SwervePay Consumer Payment Fee FAQs
SwervePay is a third-party processing company that makes it possible for businesses, including collection agencies, to accept credit card or debit card payments or receive funds electronically from a consumer’s bank account to make a payment.
This is a fee SwervePay charges consumers in connection with payment methods such as credit card and debit card payments.
SwervePay can charge a Consumer Payment Fee when it has the consumer’s permission to make a payment using a credit card or debit card payment method.
Due to increasing costs to process card transactions, the collection agency has contracted with a third-party company, SwervePay, to provide card processing and electronic funds transfer services for consumer payments. By contracting with SwervePay, the collection agency will receive the full amount of the payment and avoid many of costs to process card payments. The fee is charged by the third-party processor, not the collection agency.
The Consumer Payment Fee will appear as a separate transaction on your statement. It usually appears above or below the payment made to the collection agency. This means two separate transactions will be listed on your card statement: one transaction for the payment to the collection agency, and one transaction for the Consumer Payment Fee to SwervePay.
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