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The System File Transmission Fee applies every time you take a Visa card. Transactions can (and often do) incur more than one assessment fee. For example, you may frequently see the System File Transmission Fee along with the Acquirer Processing Fee. Visa’s Assessments Visa is in charge of setting the conditions for when assessment fees …
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Sometimes called “ghost authorizations,” misused authorizations are transactions that are neither settled nor reversed properly. The fee attempts to cut down on such authorizations. Therefore, if you don’t follow a Visa authorization with a matching clearing transaction, you’ll incur the Misuse of Authorization Fee. You could also incur the fee in the case of a …
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Technically, there are two of these fees: the credit voucher fee and the Base II Credit Voucher Fee. The difference is that the Base II Credit Voucher Fee applies to US-based transactions. From there, the fee is split into Credit Voucher Fee (Debit), Credit Voucher Fee (Credit), Base II Credit Voucher Fee (Debit), and Base …
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Assessment Fees Both Visa and Mastercard charge assessment fees as a way to make money from credit card transactions. Assessment fees are typically small (often fractions of a penny) but multiple assessment fees can apply to the same transaction. The Kilobyte Access Fee is a common Visa and Mastercard assessment that you will be charged …
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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 …
All Four Major Credit Cards to Go Signature-Free Read More »
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That’s why Visa’s new entry into the contactless transit payments marketplace is so exciting. We’ve all seen the queues at turnstiles and ticket windows. Systems like Oyster on the London Underground, Suica in Japan, and Calypso in Europe have revolutionized how people get around. These contactless micro payment cards simply debit a small amount from …
Visa and the Contactless Transit Payments Market Read More »
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The use of cash as the de facto payment option is shrinking, and nearly 40% of Americans favor going completely cash-free. Then, in the summer of 2017, Visa stepped up a “war on cash” by offering businesses money to go cashless. If you run a business, it’s almost inevitable that much of your sales are …
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Let’s take a look at what you’ll need to do if you want to accept only one type of card. What is Visa Limited Acceptance? The Visa Limited Acceptance program allows businesses to choose to only accept certain types of Visa cards. As you can see from this excerpt from Visa’s Core Rules, a business …
