What is a Retrieval Fee?
A cardholder's issuing bank sends a retrieval request to the processing bank. Then the processing bank sends the request to the business. At this point a processor will assess a retrieval fee. A retrieval request does not involve the refund or reversal of a transaction. A reversal is only initiated if a chargeback occurs. Since retrieval fees ar...
Transaction Integrity Fee (TIF) Visa
Effective April 13, 2012, Visa began charging a Transaction Integrity Fee (TIF) of $0.10 on transactions involving Visa debit and prepaid cards that do not meet CPS requirements (more on this later). The Transaction Integrity Fee will not apply to Visa credit card transactions. Transaction Integrity Fee The TIF will not affect a large number of...
Fixed Acquirer Network Fee (FANF) Visa
Visa charges the Fixed Acquirer Network Fee, often abbreviated as FANF, for credit card acceptance. The fee went into effect in 2012, but has undergone several changes since then. Unlike some other assessment fees, the FANF is not a set cost. It varies based on factors including processing method, sales volume, and number of business locations. ...
Are Credit Card Processing Fees Negotiable?
Before you can negotiate credit card processing fees, you have to know which fees are flexible. Credit card processing is like any other industry in that there are fixed costs and markups. Fixed costs are those that a processor can't change, and markups are open to discussion. Understanding the components of credit card processing cost is the fi...
Understanding American Express Merchant Services
There's a lot of confusion about American Express merchant services. We regularly field questions about discount rates, pricing models, and settlement. In this article, we'll explain everything you need to know about accepting American Express at a business. Just looking to see costs to take Amex cards? For the most up-to-date pricing, use our f...
Contract = Good, Termination Fee = Bad
A contract is a good thing because it provides protections for businesses and processors by clearly outlining the responsibilities of each party under a merchant processing agreement. A contract term is also a good thing. Without a term, a processor would not be obligated to provide processing services for any length of time. Most businesses wou...
What is a Good Interchange Plus Rate?
Interchange plus rates vary widely from one processor to the next. How competitive rates are will depend on your business's processing profile and how you are gathering quotes. It's also important to understand that interchange plus is a form of pricing; it's not a single rate. The percentage portion of the processing markup (the "rate") may not...
NABU Fee - Network Access Brand Usage
Mastercard charges the NABU fee on all authorized or refunded credit and signature debit Mastercard transactions. The fee is currently set at $0.0195. Mastercard Assessment Fees Assessment fees, such as the NABU fee, are charges incurred as part of processing a credit card. Revenue generated from the NABU fee goes directly to MasterCard, mean...
Mastercard Cross Border Fee
Mastercard charges an assessment fee called a “cross border fee” on all transactions acquired in the United States that involve a credit card issued outside of the United States. For example, if a cardholder uses their Canadian-issued Mastercard to make a purchase from a business in Michigan, the business will be assessed a cross border fee. Let...
Less Discount Paid Means Less Money for You
"Less Discount Paid" Defined "Less discount paid" is the term that credit card processing services use to indicate the amount of money that a business has paid in fees throughout a given month. Howeer, in order to determine the total amount paid in processing fees that month, you have to add "less discount paid" to the amount charged at the end of ...
