Verizon Now Imposing Mandatory “Economic Adjustment Charge”

While Verizon more than likely has numerous underlying factors for these new charges, publicly they have addressed several news outlets in an effort to explain their actions to the general public. Recently, a Verizon spokesperson stated, “From time to time, we review and make adjustments to fees to defray some of Verizon’s administrative and telco expenses and costs of complying with regulatory requirements.” Several nationwide wireless carriers, not just Verizon, cite the state of the current economy for their price hikes. Tami Erwin, the head of Verizon Business, stated, “We’re all feeling the pressure, and we’ve been in the process of deciding how much of that pressure we can share with our clients.” One thing is for certain, as wireless carriers experience increased operating expenses, they are unwilling to absorb these expenses but will instead pass their increased costs onto the consumer.

The new surcharges are only applicable to existing lines (lines activated before 5/16/2022) that meet the following conditions:

• If the line existed BEFORE 5/16/2022 and is currently out of contract: line contract has expired, no current device installment, or line was activated without a contract (BYOD)

• If the line existed BEFORE 5/16/2022 AND has a current device installment agreement, and has 12 months or less remaining on the agreement.

• Lines that existed prior to 5/16/2022 and are currently in contract (or have more than 12 months remaining on their existing installment agreement) will not be charged the surcharge. However, once the line is upgraded, it will start to be billed the monthly surcharge.

• Lines that are activated on 5/16/2022 and moving forward will be subject to the surcharge, regardless of the contract status.

If accounts meet the specified criteria, anyone currently utilizing Verizon will be required to pay these new surcharges. As is the case with any new program being instituted by wireless carriers, there are often billing hiccups and mistakes, which in turn cost businesses thousands of dollars in unnecessary charges. Solve(X), the industry’s only Wireless Expense Management (WEM) solution built on Azure, INTERPRETS your monthly wireless charges by utilizing machine learning technology. Basically, Solve(X) software will ensure that all future Verizon “Economic Adjustment Charges” are placed on the correct devices and will mitigate any billing errors performed by Verizon.

About GoExceed:

Founded in 2001, GoExceed is recognized as an industry leader in Wireless Expense Management (WEM) solutions. We service over 2 million enterprise wireless devices per year, and our clients range from midsize businesses to Fortune 500 companies. Our comprehensive suite of management solutions has revolutionized the way companies manage their wireless accounts, devices, users, costs, data, cost centers, contracts, policies, and more. We firmly believe that innovation is not only the key to our success, but essential in an ever-changing wireless landscape across the world. GoExceed empowers businesses with real-time reporting and analytics, enabled by Microsoft Power BI, in order to proactively save time, money, and resources. Your success is what drives our passion for technology and innovation.