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Visa charges a number of different fees, called assessment fees. Every time you accept a Visa card, assessments apply. The Base II fee, or settlement network access fee, is one of those assessment fees. As of 2018, Visa sets the Base II fee at $0.0025. What is Visa Base I and Base II? Visa’s processing …
Visa Base II Fee or Settlement Network Access Fee Read More »
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101 credit card processing tips may seem like a lot, but the more you know the better equipped you will be to avoid pitfalls. The benefits of CardFellow also become more apparent as you learn how credit card processing *really* works.
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The International Service Assessment (ISA) fee only applies in situations where a US-based business accepts a Visa card issued by a non-US Bank. If you take card payments from foreign visitors in person or accept foreign transactions online, you may see the ISA fee as part of your processing costs. Visa’s Assessment Fees The ISA …
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Knowing how to spot bait-and-switch pricing will save time and money.
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Note: Pivotal Payments has changed its name and goes by Nuvei. It’s possible that the new company does not engage in the same practices noted in this article. We’re leaving it here for historical purposes, but will no longer be updating it. If it turns out that Nuvei utilizes the same practices, we will create …
Pivotal Payments’ Cancellation Fee & Auto Renewing Contract Read More »
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How are businesses with small tickets an unexpected (or expected, depending on whom you ask) casualty of the Durbin Amendment? Let’s take a look. Interchange is Complicated The fees that businesses pay to process a credit or debit card transaction are called interchange fees. An interchange fee generally consists of a percentage and flat transaction …
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We caught a processor in the act of pocketing Durbin savings, and we saved the business 43% when all was said and done. As this success story shows, a low rate is just the start of savings. A competitive pricing model and fair terms produce savings, too.
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In some cases, your business can charge customers a convenience fee for using a credit card. But there’s a maze of rules, exceptions, and even state laws to navigate to ensure you stay compliant with the terms of your merchant processing agreement. It’s also important to note that credit card convenience fees are different than …
Charging Customers a Credit Card Fee at Checkout Read More »
