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Visit15% 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.
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Markets
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Court records and official legal filings
No • 50%
Yes • 50%
Official announcements from the federal government or relevant regulatory bodies
No • 50%
Yes • 50%
Official statements from the payment processing company or school districts
Regulation imposed • 25%
No action taken • 25%
Settlement with federal government • 25%
Voluntary fee reduction by company • 25%
Official announcements from federal agencies or company statements
No significant change • 25%
Regulation imposed • 25%
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Reduced to 10% or less • 25%
Reduced to between 10% and 12.5% • 25%
Reduced to between 12.5% and 15% • 25%
No reduction • 25%
Official statements from the payment processing company or school districts