Interchange Fees

Mastercard Standard Interchange Downgrade

Every time you accept a credit card at your business, you’re charged a fee. Part of that fee comes from interchange, but there are hundreds of interchange categories. Each transaction has a “target” interchange category (and associated cost) that a transaction should qualify for if basic requirements are met. However, if those requirements aren’t met…

TwitterFacebookLinkedIn

An interchange “downgrade” happens when a credit card transaction doesn’t meet requirements for a preferred interchange category.

Read the full article

Interchange Fees

Mastercard Merchant UCAF Interchange Fees

SecureCode is Mastercard’s “3D Secure” technology solution. It’s designed to help prevent fraud and unauthorized purchases by adding a layer of customer authentication. Unfortunately, 3D Secure is not very common in the United States. However, properly implementing it can benefit your business not only in terms of reduced fraud, but also by lowering your interchange…

TwitterFacebookLinkedIn

Mastercard’s Universal Cardholder Authentication Field (UCAF) interchange categories determine the interchange fees a business pays if it uses Mastercard SecureCode.

Read the full article

Credit Card Processing, Legal, News

Is the Payment Card Settlement Legit?

First of all, I’m referring to the lawsuit formally named In Re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. You may also see it called the Payment Card Interchange Fee Settlement, which should be the return address. It’s a good idea to verify that any paperwork you’ve received matches this information. Unfortunately, there…

TwitterFacebookLinkedIn

If you received a notice of a class action lawsuit claiming you may be affected by a payment card settlement, you’re probably wondering if it’s legitimate. It is, but there are some important things to know.

Read the full article

Interchange Fees

Mastercard Interchange Fees for Restaurants

Specifically, Mastercard does not have a restaurant-specific category for basic consumer credit cards. However, it does have restaurant-specific categories for consumer “rewards” cards, debit cards, and prepaid cards. In this article, we’ll take a look at the credit card rates for restaurants that accept Mastercard. Looking for a more general explanation of credit card processing…

TwitterFacebookLinkedIn

Restaurants that accept Mastercards may see specific restaurant interchange fees or general fees. That’s because Mastercard has restaurant-specific categories for some cards, but not others.

Read the full article

Interchange Fees

Mastercard Merit 1 Interchange Fees

It’s Mastercard’s way of referring to common “card not present” transactions, meaning online and keyed payments. It applies to several possible card types (including credit, debit, and prepaid) and both rewards and non-rewards cards. It does not apply to “card present” transactions where you swipe a card through a terminal. This article gets into finer…

TwitterFacebookLinkedIn

Merit 1 (or Merit I) is a set of Mastercard interchange categories that dictate the rates for certain Mastercard payments.

Read the full article

Credit Card Processing

Mastercard Dispute Resolution Initiative (MDRI)

Mastercard plans to phase in MDRI over a 2 year period that began in 2018 and will be fully completed in 2020. Specific dates and what will be involved in each phase of the rollout may change over time, and we’ll add details as Mastercard makes them available. Understanding disputes Mastercard Dispute Resolution Initiative Phase…

TwitterFacebookLinkedIn

In October 2018, Mastercard began a phased revamp to its chargeback process, calling it the Mastercard Dispute Resolution Initiative (MDRI).

Read the full article

Credit Card Processing

What Happens When You Get a Chargeback

When you disagree that a chargeback is warranted, you’ll need to fight that chargeback through your credit card processor. However, processors each have their own methods for notifying you of chargebacks and for requesting documentation to support your claim. In this article, we’ll go over what to expect when you receive a chargeback so that…

TwitterFacebookLinkedIn

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.

Read the full article

Credit Card Processing

Mastercard Acquirer Program Support Fee

Essentially, it applies under the same circumstances as the Cross Border Fee (domestic). One or both fees can apply to the same transaction. Mastercard currently sets the APSF at 0.85%. Assessment Fees Acquirer Program Support Fee Locating the Fee on Processing Statements Finding the Lowest Cost Credit Card Processor Assessment Fees A non-negotiable component of…

TwitterFacebookLinkedIn

Mastercard’s Acquirer Program Support Fee is an assessment fee for accepting Mastercards that were issued outside of the United States.

Read the full article