Official announcements from federal agencies or company statements

15% Processing Fees on School Meals in New Jersey Attract Federal Scrutiny

Sep 4, 2024, 02:04 PM

As students return to school, a significant issue has emerged regarding the high processing fees charged by one of the world's largest payment processing companies. This company is imposing exorbitant fees, up to 15%, on parents who load money into their children's meal accounts, a practice that has now attracted federal scrutiny. In New Jersey, some school districts have transitioned to a cashless online process for school lunches, which includes additional processing fees on top of the meal prices. The situation has raised concerns about the financial burden on parents and the transparency of these fees. The payment processor is fighting to protect the millions it makes from these upcharges.