Wal-Mart filed a similar suit against Visa in May. The Security Problem According to Home Depot Home Depot accuses Visa and Mastercard of being more concerned with protecting their “inflated profits and dominant market positions” than in the security of payment cards used by consumers and “the health of the United States economy.” It allege...

In response to this threat that can cripple or virtually destroy any retail business, Total System Services, Inc. (also known as TSYS) created a Credit Card Compromise Assistance Plan (C-CAP). This service can ease the financial risk and reassure business owners who accept credit cards at their retail locations and online.  C-CAP protects them from...

Unlike magnetic stripe cards, chip cards inserted into the reader must stay there until the transaction is complete. In some cases, customers wait 15 seconds or longer for the authorization to go through once the cashier has hit the appropriate payment button. This creates a lot of friction, slowing the checkout process, increasing wait time in lin...

In July of 2016, businesses may have noticed a new fee on statements: the CardPointe fee. Charged by CardConnect, the CardPointe fee is a monthly charge that may be added to existing processing fees. What is it, does it affect you, and what are your options? Let’s take a look. What is the CardPointe fee? Popular payment provider CardConn...

In 2019, Square did away with its 2.75% rate in favor of 2.6% + 10 cents per transaction. Additionally, the company is now offering equipment leases, a practice that we generally advise against here at CardFellow. Read on to see what these Square fees mean, and what the leasing is all about. Square’s Per-Transaction Fee “Per-transaction ...

Update - in November 2017, Walmart and Visa announced that they are settling the lawsuits. Details of the settlement have not been made public, though Visa made a public announcement that they're pleased with the settlement decision. We're leaving the rest of this article for historical purposes.  Setting the Stage: PIN vs. Signature The la...

Note that in the past, Visa has had two categories for commercial level 2 cards - one for corporate cards and one for purchasing cards. As of 2023, Visa's published interchange table shows one consolidated category - commercial level II. Interchange rate & fee: 2.50% + $0.10 Also known as: US CORP L2 Commercial Level II (also known as US COR...

Interchange rate & fee: 2.70% + $0.10 Also known as: COMM CNP P Commercial Card Not Present (or COMM CNP P) is an interchange category that is used to calculate the interchange fee for card-not-present transactions involving a payment made with a commercial purchasing card instead of a consumer credit card. The transaction takes place by phon...

In Visa's published interchange table as of summer 2023, this category shares a generic name (Commercial Card Not Present) with purchasing cards. Previously, the categories had two different, if similar, names - Corporate Card Not Present and Purchasing Card Not Present. Now, they simply share the name Commercial Card Not Present. You may still see...

In the past, Visa has maintained two categories for commercial level II - one for purchasing cards and one for corporate cards. As of this update in 2023, Visa's published interchange table shows one consolidated category - Commercial Level II - for both card types. Rate & fee: 2.50% + $0.10 Also known as: US COMM L2 P Commercial Level II (U...