Payment processing is a vital aspect of any business that deals with international customers. However, many are unaware of the unethical practices banks engage in when it comes to processing payments. In this article, we delve into how banks exploit exchange rates and adopt unfair practices in payment processing.

What is Payment Processing and Why is it Important?

Payment processing involves transferring funds from a customer to a business in exchange for goods or services. It's crucial for businesses to provide various payment options to accommodate customer preferences, and banks play a significant role in processing these payments.

The Dark Side of Banks in Payment Processing

Banks employ various tactics to exploit exchange rates for payment processing, including:

  1. Markup fees: Banks add an extra fee to the exchange rate, increasing costs for businesses and customers.

2. Rate manipulation: Banks give customers a worse exchange rate than what's available on the open market.

3. Hidden fees: Banks often conceal fees within the exchange rate, making it challenging for businesses and customers to determine the true cost of the payment.

4. Delayed processing: Banks may postpone payment processing to manipulate the exchange rate in their favor.

Unethical Practices of Banks in Payment Processing

In addition to exchange rate exploitation, banks engage in several unethical practices when processing payments, such as:

Overcharging: Banks impose excessive fees and commissions on payment processing, cutting into business profits.

Non-transparent pricing: Banks fail to disclose full details of their pricing and execution methods, making it hard for businesses to understand the true cost of payment processing.

Inefficient execution: Banks don't always process payments promptly and efficiently, leading to delays and potential financial losses for businesses.

Chargebacks: Banks often favor customers in chargeback disputes, leaving businesses to bear the burden of fraudulent chargebacks.

Lack of accountability: Banks are rarely held accountable for their unethical practices, as they maintain large legal teams and lobby to weaken regulations.

How PingPong Payments Outshines Traditional Banks

Switching to a payment processing company like PingPong Payments can help you regain control of your business payments while providing peace of mind. So, how do we stand out?

End-to-end payment tracking: Use our real-time payment tracker to monitor your payment's progress and receive notifications of delays or errors.

Transparent pricing: With PingPong Payments, you always know what to expect in terms of pricing. All fees and foreign exchange rates associated with a payment are clearly displayed during the creation process. No surprises!

24/7 Customer Support: Our world-class support team is always ready and willing to help with any questions about your payments.

Security: We implement numerous security features to protect you, your account, and your payments. Trusted by users across the globe, PingPong Payments' top priority is to deliver your funds securely and in a compliant manner.


The practices of banks in payment processing are alarming and unethical, negatively impacting businesses and undermining the integrity of the payment processing system. As a business owner, it's crucial to be aware of these practices and choose a payment processor that prioritizes transparency and ethical behavior. By doing so, we can help foster a more trustworthy and reliable payment processing system.

Ready to let PingPong Payments assist you with all your business payment needs? Get started today!

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