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As of 2018, the International Assessment carries a rate of 0.40% of the total transaction volume. Let’s break that down further and take a look at when this fee is charged. OptBlue Pricing Model Firstly, the International Assessment applies on the Amex OptBlue pricing model for businesses. OptBlue is a pricing program that more closely …
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Let’s break that down a little further. Defining Card Not Present The term “card not present” can be a little tricky. It covers any transaction where you don’t run the card through a credit card machine using the magnetic strip or EMV chip. This means that in addition to ecommerce transactions, any transaction where you …
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However, processors may or may not charge it, and may or may not list it as the “data usage fee.” What are assessment fees? Assessment fees are a component of credit card processing costs. Unlike interchange fees (which go to the banks that issue credit cards to consumers) assessments are charged by and paid to …
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Let’s take a look at when you’ll be charged, how much, and how to locate the fee. What is the Digital Enablement Fee? Mastercard’s Digital Enablement Fee is an assessment charge that Mastercard implemented in January 2015. The fee applies to all “card-not-present” transactions (typically ecommerce sales) including credit and signature debit cards, with the …
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Available from American Express, SafeKey provides an addition layer of protection for online transactions made with an American Express card. What is American Express SafeKey? SafeKey is American Express’ version of a 3D Secure authentication tool to help both cardholders and businesses protect against unauthorized online Amex transactions. Cardholders are automatically enrolled in the SafeKey …
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While they provide tremendous convenience, it’s also vital to properly secure IoT products, especially if they have access to our financial details. Let’s take a look at the IoT, explain what it is, how it’s integrating payments, and the impact that will have on consumers, manufacturers, and payment providers. What is the Internet of Things? …
What Changes Will the Internet of Things Make to Payments? Read More »
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That’s why Visa’s new entry into the contactless transit payments marketplace is so exciting. We’ve all seen the queues at turnstiles and ticket windows. Systems like Oyster on the London Underground, Suica in Japan, and Calypso in Europe have revolutionized how people get around. These contactless micro payment cards simply debit a small amount from …
Visa and the Contactless Transit Payments Market Read More »
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First Data (now owned by Fiserv) and its sales channel Ignite Payments first began this practice back in 2017. It’s called the Commercial Card Interchange Service, and the goal is to help you reduce interchange fees on certain transactions made with a commercial credit card. In exchange for helping you save money on commercial transactions, …
