Posts Tagged ‘visa settlement surcharge’

U.S. Merchants Can Now Add A Surcharge for Credit Card Transactions, But Be Cautious.

In November 2012, the U.S. District Court for the Eastern District of New York preliminarily approved a proposed settlement agreement with Visa and MasterCard. As part of the settlement, Visa and MasterCard were required to allow merchants to surcharge certain credit card transactions beginning January 27, 2013. The surcharge is being called a “Checkout Fee.”… Read More »

Visa/MasterCard Settlement May Foster Misleading Sales Tactics and Merchant Complacency

Here is a brief review of the Visa and MasterCard settlement On July 12, Visa, MasterCard and 13 of the country’s largest banks have agreed to pay $7.25 billion settlement with retailers in a lawsuit over price-fixing on credit card transaction fees. The settlement, on behalf of about 7 million retailers, could be the largest… Read More »

“Interchange plus Pricing” does not automatically mean “Fair Pricing”

If you have read any of my articles, you know I am a proponent of Interchange Plus pricing and I detest the use of Tiered pricing on merchants. However, please understand that a merchant on Interchange Plus pricing can still be grossly overpaying for card processing. In fact, of the hundreds of merchant statements I… Read More »

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Understanding Interchange Rates and Other Fees – Know The Basics Before Negotiating Pricing

Many merchants think card processing is pretty simple, not realizing how interchange rates (issuer and card association fees, dues and assessments) drastically affect their bottom line. They think the customer’s card information, obtained during an on-line purchase, is sent to one of the card associations — Visa, MasterCard, Discover, American Express.
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