Interchange rate & fee: 2.30% + $0.10
Also known as:
EIRF is a Visa interchange category that indicates a downgrade. Transactions qualify for EIRF when they don't meet the criteria for categories with lower rates. For example, a transaction that is keyed-in to a terminal without address verification information instead of being swiped may fall into the EIRF category. Call your processor if you see a lot of EIRF transactions on your statement because it's a good indication that something is not being processed correctly.
The EIRF interchange category does not apply to the following MCCs:
· 5962 (Direct Marketing – Travel)
· 5966 (Direct Marketing – Outbound)
· 5967 (Direct Marketing – Inbound)
Typical bundled qualification:
EIRF is generally considered “non-qualified” for all businesses.