A really short entry in The Official Merchant Services Blog today. More of a news flash for merchants:
Effective October 15, 2011, Visa introduces the Consumer Credit Card Charity Interchange Rate Program for charitable organizations –– which specifically only refers to organizations with the Merchant Category Code (MCC) of 8398, Charitable and Social Service Organizations – Fundraising. Processing requirements for this program will be the same as those for the current CPS Retail 2 Program (the previous interchange program that was available to charitable contributions). The new rates for this program are 1.35% + $0.05.
Host Merchant Services offers this great low rate affected by Visa’s recent announcement in addition to the quality customer service and targeted focus of HMS processing solutions. Download our quick reference guide here to have all the information on this new interchange rate at your fingertips.