CapitalOne Acquires Discover

But what does that mean for your business? Will customers still have and use Discover cards? Are your credit card processing fees going to change? At this point, we don’t know all the details, but here’s what you can expect with the current information. The Discover Acquisition CapitalOne announced its intention to acquire Discover in …

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Mastercard Commercial Interchange – Data Rate 1 and 2

Mastercard uses many different interchange categories to determine the rates and fees your business pays for accepting credit cards. There isn’t just a single “Mastercard business” interchange rate. There are 5 different business card rates, depending on the “program level.” From there, most businesses will see rates further broken into one of two categories: Data …

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Visa Business Product 1 and Business Product 2 Interchange

Business Product 1 applies to card-not-present transactions and Business Product 2 applies to card-present transactions.There are additional “sub-categories,” determined by spend tiers 1-5. Note that Visa uses Roman numerals, so the spend tiers are I, II, III, IV, and V. Spend tiers relate to the cardholder spending requirements and range from $0 in Tier I  …

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Visa Restaurant 1 and Restaurant 2 Interchange

The two categories essentially replaced Visa’s prior CPS interchange program, and apply to different consumer credit transactions. The broadest difference is that Restaurant 1 applies to card-not-present transactions and Restaurant 2 applies to card-present transactions. There are additional “sub-categories” with Restaurant 1 and 2, but unlike with some other categories, there are actually only two …

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Visa Product 1 and 2 Interchange

Product 1 and Product 2 are common interchange categories for a variety of business types. The categories essentially replaced Visa’s prior CPS interchange program, and apply to different consumer credit transactions. The broadest difference is that Product 1 applies to card-not-present transactions and Product 2 applies to card-present transactions. However, within those two categories are …

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