A battle is brewing. Citing security issues, giant retailer Walmart has brought a lawsuit against Visa. At the end of June, 2016, Visa filed a countersuit. The news has spread like wildfire, and misconceptions are also spreading fast. Let’s take a look at what the lawsuit is actually about and address some of the incorrect info going around.
Visa’s commercial card-not-present is an interchange category. It refers to payments made using a commercial purchasing card when the card is not swiped.
Commercial Level II is a Visa interchange category used to calculate the interchange fee for card-not-present transactions made with a corporate credit card instead of a consumer credit card.
The Business Card Not Present (or COMM CNP B) is a Visa interchange category that is used to calculate the interchange fee for card-not-present transactions made with a business credit card instead of a consumer credit card.
Visa’s Business Card Level II (US COMM L2) is an interchange category used to calculate the interchange fee for card-not-present transactions made with a business credit card.
Commercial Level II is a Visa interchange category used to calculate the interchange fee for card-not-present transactions involving a payment made with a purchasing card.
Visa’s Commercial Card Not Present interchange category refers to card-not-present transactions made with a corporate credit card instead of a consumer credit card.
A sneaky thing is going on with the cost businesses pay to accept American Express cards. Changes have made it cheaper than ever to accept Amex, but business’ credit card processing statements aren’t reflecting the cost reduction.
