Credit Card Processing
Visa Claims Resolution Fees and Explanations
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Visa Claims Resolution (VCR) is a chargeback management system that Visa rolled out in 2018. It’s designed to streamline Visa’s chargeback process.
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Credit Card Processing
What Happens When You Get a Chargeback
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Most businesses deal with a chargeback at some point. When a customer is not satisfied with a purchase, they dispute that purchase through their credit card issuer, asking for the money to be refunded.
Credit Card Processing
Visa Zero Floor Limit Fee
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The Zero Floor Limit fee applies to transactions without a previously approved authorization.
Credit Card Processing
Visa’s Zero Dollar Verification Fee
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The Zero Dollar Verification Fee is a small charge (called an assessment) that Visa imposes when your business verifies cardholder information without actually charging the card.
Credit Card Processing
Visa’s Base II System File Transmission Fee
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The Visa System File Transmission Fee, also called the Base II Transmission Fee or Base II System Fee, is an assessment fee that Visa charges.
Credit Card Processing
Visa’s Misuse of Authorization Fee
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The Misuse of Authorization Fee is an assessment charge that Visa imposes on transactions that don’t follow proper authorization procedures.
Credit Card Processing
Visa’s Base II Credit Voucher Fee
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Visa’s Base II Credit Voucher Fee is an assessment fee that Visa charges when your business refunds a customer’s money. There are separate fees for credit and debit.
Credit Card Processing
Kilobyte Access Fee (Visa and Mastercard)
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Visa and Mastercard both charge a Kilobyte Access Fee as one of their assessment fees for credit card processing. As of 2018, Visa’s fee is set at $0.0047 while Mastercard’s is $0.0035. The fee is charged for each authorization transaction submitted to the card network for settlement. Let’s look at what that means and how to determine your costs for the Kilobyte Access Fee.