All Four Major Credit Cards to Go Signature-Free
The paradigm shift was been prompted by leaps in credit card security and fraud protection, along with consumer trends such as the rise of mobile payments technology (e.g., Apple Pay), and of course the now-ubiquitous chip card. What changed, and does it affect your business? Let’s take a look. What Changed Under the prior signature author...
Mastercard Card Validation Code (CVC2) Fee
Currently, Mastercard charges $0.0025. Let’s take a closer look at the criteria for the fee and how to determine if you’ve been charged. Card Validation Code Fee As mentioned above, the CVC2 Fee applies when you include the customer’s 3-digit code from the back of their card with a transaction submitted for authorization. If the response to t...
Mastercard Account Status Inquiry Fee
Currently, Mastercard sets the Account Status Inquiry Fee at $0.025. Mastercard Processing Fees The fees that Mastercard charges for credit card processing are called assessment fees. They’re one part of the total cost to process a credit card, along with interchange and the processor’s fees. Assessments are non-negotiable, and ideally, will be...
Discover Network Authorization Fee
Discover implemented the Network Authorization Fee in 2013 to replace the Data Transmission Fee, which applied to fewer transactions. The Network Authorization fee is often charged in tandem with the Discover Data Usage Fee. However, some processors only list one or the other. As of 2018, Discover sets the fee at $0.0025. What are assessment f...
Mastercard Processing Integrity Fee
The amount and criteria for the fee vary depending on specific circumstances, which we’ll explain in detail below. Processing Integrity Fees Summary Currently, the Processing Integrity Fees are as follows: Pre-Authorization, Undefined Authorization: $0.045 Final Authorization: 25% of the transaction, minimum $0.04. No Reversal: $0....
Assessments: Discover International Processing Fee and International Service Fee
If you take a Discover card that was issued outside the US, you’ll be subject to international processing fees. Discover Assessments Assessment fees are a non-negotiable component of credit card processing costs. Assessments are set by the card brands and are the same for everyone. Therefore, it is not possible to negotiate lower assessment c...
American Express International Assessment
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 fol...
American Express Card Not Present Surcharge
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 “key in” card details is...
