Clearing & Settlement July 2020 Card Brand Enhancements: Card Brand Fees
Visa U.S. Acquirer Pricing Modified for Account Verification and Authorization Reversal Visa announced in a Visa Business News dated October 10, 2019, that modifications will be made to the U.S. Acquirer Authorization Verification Fees and extend the Network Acquirer Process Fee to include U.S.acquirer authorization reversals. Effective July 1, 2020: A new fee will be […]
Clearing & Settlement July 2020 Card Brand Enhancements: Additional Enhancements
Visa Discontinue Support of the Performance Tier 2 Program—Canada Region Visa will no longer support the Performance Tier 2 interchange program for merchants in the Canada region. Although these programs will still be visible throughout the systems, no volume will report to these programs. FPI IQSTA IC Level Fee Program Name (PPM Description Name Current […]
Clearing & Settlement July 2020 Card Brand Enhancements: Interchange Program Enhancements
Business Impacts Merchant portfolios may need be reviewed to prepare profitability models that support these interchange rate changes. Mastercard Canada Region Enhancements to Interregional Interchange Programs Mastercard is enhancing interregional interchange programs for the Canada region and is reclassifying consumer credit product code MSP-Muse Mastercard to Consumer Super Premium, in addition to expanding Canada acquiring […]
Clearing & Settlement July 2020 Card Brand Enhancements: Interchange Program Description & Rate Changes
Business Impacts Merchant portfolios may need be reviewed to prepare profitability models that support these interchange rate changes. Visa Canada Region Changes to Performance Tier 1 Fee Program for Visa Debit Transactions Visa will modify the description of the existing Canada domestic Performance debit fee programs. FPI IQSTA IC Level Current Fee Program Name (PPM […]
Clearing And Settlement July 2020 Card Brand Enhancements: New Interchange Programs
New Interchange Programs In July 2020, Visa, Mastercard, American Express, and Discover are implementing new interchange programs. Business Impacts Merchant portfolios may need to be reviewed to prepare profitability models to support these new interchange programs. Visa Canada Region Changes to Performance Tier 1 Fee Program for Visa Consumer Credit Transactions Performance Tier 1 will […]
Debit Card Transactions Fees & Rates
Debit card transaction rates and fees are usually cheaper than credit card transaction fees, but it is still important to understand what they are and exactly how much they are costing your business. Some debit transactions cost less, depending on the type of debit transaction (PIN vs. Signature), card brand, and ticket size. PIN Debit […]
Visa International Card-Not-Present Interchange
Visa has specific interchange for transactions that occur using an international card in a card-not-present environment. The term“Card-Not-Present” refers to credit card transactions where the card is either keyed in or the transaction is taking place online. These transactions tend to have higher interchange rates because they are more susceptible to fraud. However,there are ways […]
Interchange Downgrades
If you’re a business owner, you’ve probably heard of the term “interchange downgrade.” Downgrades are not easy to understand, but they can end up costing you hundreds of dollars in credit card fees per month. While they’re not totally avoidable, it is possible to learn to recognize some of them and save money. What Are […]
Cash Discount
Credit and debit card transactions have a processing fee associated with them that merchants must pay, this is referred to industry terms as credit card processing fees (for more information, click here). As a result, some businesses are reluctant to take credit and debit cards for small purchases. After all, these fees can add up quickly […]
Visa Interchange Rates
If you accept credit and debit cards, you most likely accept Visa. Being the most popular card worldwide, you would be remiss not to. Visa’s rates are available here to the public, but since they can be somewhat confusing we’ll go over them in this article. Visa has eight categories for interchange rates: Consumer Check […]
