Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.
Credit Card Processing
There are a few important considerations. Here are things to keep in mind about Stripe chargeback protection: The chargeback protection program costs 0.40% per transaction. That’s not exactly cheap. Not all chargebacks are eligible. In fact, quite a few types are ineligible. “Risky” transactions will require use of 3D Secure anti-fraud tools. 3D Secure already […]
In June 2019, Stripe announced a chargeback protection program. For an additional fee, Stripe will cover the cost of some disputed transactions. That sounds good, but is it actually worth it?
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 […]
Mastercard’s Universal Cardholder Authentication Field (UCAF) interchange categories determine the interchange fees a business pays if it uses Mastercard SecureCode.
Credit Card Processing, Legal, News
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 […]
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.
Interchange Fees
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 […]
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.
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 […]
Merit 1 (or Merit I) is a set of Mastercard interchange categories that dictate the rates for certain Mastercard payments.
Interchange Fees
“Card not present” or CNP refers specifically to any transaction that is not swiped (for magnetic stripe cards), dipped (for EMV chip cards) or tapped (for contactless payment methods like Apple Pay.) If you don’t physically run a card through a machine using one of those methods, the card is considered “card not present.” If […]
CPS Car Rental, CPS Hotel, and CPS Passenger Transport are interchange categories that determine the interchange fees a business in one of those industries pays to accept a debit or prepaid card online or by keying it in.
Interchange Fees
We’re also including “CPS Passenger Transport” (such as airlines, cruises, and railways) interchange categories in this article. The reason is that all of these industries fall under “travel and entertainment” and many have the same requirements and rates despite the different business types. These categories only apply to “card present” transactions made with prepaid cards […]
“CPS Hotel” and “CPS Car Rental” are Visa interchange categories that determine the rates and fees a hotel or car rental agency will pay to accept debit or prepaid cards in person.
Interchange Fees
For the purposes of interchange, “international” cards are credit and debit cards issued by a bank located outside of the United States. Visa also sometimes refers to the cards and interchange as “interregional” instead of international. These categories apply to both international credit and debit cards in a “card not present” (CNP) transaction. They do […]
The international card not present interchange categories determine the fee a U.S.-based business will pay to accept an international Visa card online or by keying in card details.
