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Every time you accept a credit card at your business, you’re charged a fee. Part of that fee comes from interchange, but there are hundreds of interchange categories. Each transaction has a “target” interchange category (and associated cost) that a transaction should qualify for if basic requirements are met. However, if those requirements aren’t met …
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SecureCode is Mastercard’s “3D Secure” technology solution. It’s designed to help prevent fraud and unauthorized purchases by adding a layer of customer authentication. Unfortunately, 3D Secure is not very common in the United States. However, properly implementing it can benefit your business not only in terms of reduced fraud, but also by lowering your interchange …
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First of all, I’m referring to the lawsuit formally named In Re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. You may also see it called the Payment Card Interchange Fee Settlement, which should be the return address. It’s a good idea to verify that any paperwork you’ve received matches this information. Unfortunately, there …
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Specifically, Mastercard does not have a restaurant-specific category for basic consumer credit cards. However, it does have restaurant-specific categories for consumer “rewards” cards, debit cards, and prepaid cards. In this article, we’ll take a look at the credit card rates for restaurants that accept Mastercard. Looking for a more general explanation of credit card processing …
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It’s Mastercard’s way of referring to common “card not present” transactions, meaning online and keyed payments. It applies to several possible card types (including credit, debit, and prepaid) and both rewards and non-rewards cards. It does not apply to “card present” transactions where you swipe a card through a terminal and typically receive Merit III …
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Mastercard planned to phase in MDRI over a 2 year period that began in 2018 and was completed in 2020. Now that we’re several years past 2020, we have more information on what the changes entail and what it means for your business. Keep in mind that more changes are likely in the future, and …
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Customers dispute transactions for many different reasons. When you disagree that a chargeback is warranted, you’ll need to fight that chargeback through your credit card processor. However, processors each have their own methods for notifying you of chargebacks and for requesting documentation to support your claim. In this article, we’ll go over what to expect …
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Essentially, it applies under the same circumstances as the Cross Border Fee (domestic). One or both fees can apply to the same transaction. Mastercard currently sets the APSF at 0.85%. Assessment Fees A non-negotiable component of credit card processing costs, “assessment fees” go directly to the credit card companies. You’ll pay these fees (through your …
