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 […]
An interchange “downgrade” happens when a credit card transaction doesn’t meet requirements for a preferred interchange category.
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.
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.
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.
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.
Mastercard planned to phase in MDRI over a 2 year period that began in 2018 and was completed in 2020. Now that we’re several years past 2020, we have more information on what the changes entail and what it means for your business. Keep in mind that more changes are likely in the future, and […]
In October 2018, Mastercard began a phased revamp to its chargeback process, calling it the Mastercard Dispute Resolution Initiative (MDRI).
Customers dispute transactions for many different reasons. 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 […]
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.
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 […]
Mastercard’s Acquirer Program Support Fee is an assessment fee for accepting Mastercards that were issued outside of the United States.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
Read Now!
