Verizon Does About-Face on Proposed Online Payment Fee

Lora Bentley
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Six Collective Human Behaviors that Can Lead to Social Media Success

Enterprises that harness the power of collective behaviors will be the ultimate winners at adding enterprise value.

Companies that embrace social networks like Facebook and Twitter certainly have extra risk management headaches when, for example, employees fail to heed social media use policies. But the networks can also become risk management tools that will benefit the companies - if they are used properly.


Verizon Wireless provided the most recent example last week when it reversed its decision to charge users a $2 fee for online payments. The New York Times reported Friday that Verizon made the change barely 24 hours after announcing the fee. What prompted it? Outcry from customers on Twitter, Facebook and blogs.


In a statement, the company said it reversed its position "in response to customer feedback about the plan, which was designed to improve the efficiency of those transactions."


Writer Ron Lieber notes that the reversal itself wasn't surprising; the alacrity with which it was made was. Surprising or not, the decision was smart risk management - especially considering the Federal Communications Commission reportedly voiced its displeasure with the proposed fee.

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