Today The Official Merchant Services Blog wants to review the details of VISA’s new Fixed Acquirer Network Fee (FANF). On April 1, 2012, Visa began charging this new fee. But it has taken about this long for it to catch up to merchants and their statements. The process sort of knocked its way down like […]
FANF Reminder [2023 Update] Read More »
Today The Official Merchant Services Blog is updating its coverage of the Global Payments Data Breach. The big bomb Global just dropped is that apparently there was a second data breach. The story, initially broken by Ellen Messmer at Network World stated that Global Payments itself revealed this latest news. Data Breach II: Credit Card Boogaloo From the Global
Global Reveals More About Data Breach [2023 Update] Read More »
Interchange Interchange is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card based transactions. Usually it is a fee that a merchant’s bank (the “acquiring bank”) pays a customer’s bank (the “issuing bank”). In a credit card or debit card transaction, the card-issuing bank in a
Industry Terms: Interchange Read More »
On May 2 it was revealed by Visa CEO Joe Saunders that the credit card giant was being investigated by the Department of Justice for violation of antitrust laws. One of the key elements of the DoJ’s interest in Visa for antitrust violations is its new fee, the Fixed Acquirer Network Fee (FANF) which went
Visa Investigation Update Read More »
The Official Merchant Services Blog takes a look at Visa’s wild ride between May 2 and May 3. In the midst of a very active first quarter of 2012, Visa’s earnings report came in. The San Francisco based credit card giant then took a ride on a roller coaster in the span of two days
Visa’s Ups and Downs Read More »
We’ve been working hard the past 7 months at The Official Merchant Services Blog to offer our readers a knowledge base — a place to come frequently to get clear and useful information about the payment processing industry. But we’re always looking to take things a step further. We want to offer more information and
The Official Merchant Services Blog has just learned that Visa and MasterCard are planning to add new processing fees in the coming months — fees specifically targeted toward Debit Card Swipe transactions. These new fees, which we are consolidating and dubbing as “Card Association Fees” are going to complicate the pricing process for Merchant Services
Visa, MasterCard Add New Fees Read More »
We’ve been covering Mobile Payments here at The Official Merchant Services Blog since the very beginning. In fact, the Article Archive at Host Merchant Services has extensive coverage of the topic as well. It’s just too sexy a topic — everybody loves the allure of gadgets — and too fascinating a financial prediction — folks
1 Step Forward, 2 Steps Back [2023 Update] Read More »
Today The Official Merchant Services Blog discusses a fascinating new development by Visa in the realm of credit card processing, security, and hopefully Mobile Payment Technology. Smart cards have been slow in gaining traction, especially in the United States. But now Visa is making moves to drag the U.S. into the chip card realm, kicking
Visa Kicks Open the Door for Chip Cards Read More »
The Official Merchant Services Blog tackles the topic of Debit Card processing today. While the blog has extensively delved into the Durbin Amendment and the affects the legislation is having on merchants, one topic we’ve overlooked is Debit Card processing –– specifically PIN Debit vs. Swipe Debit. Difference Between Credit, Debit, and Check Cards First
Merchant Services: PIN Debit vs. Swipe Debit Read More »
The Official Merchant Services Blog completes its three-part series on Payment Gateways. Today’s installment discusses the pricing structure of Payment Gateways and takes a detailed look at the pricing options for the Payment Gateway Solutions that Host Merchant Services offers. What Are the Costs of Payment Gateways? The costs that you will have to pay
Payment Gateways Part 3: Cost Comparison Read More »
The Official Merchant Services Blog continues its series on Payment Gateways. Yesterday’s blog dealt with the basic question of why your business would want a Payment Gateway in the first place. It also looked at the basic setup and costs of a Payment Gateway and some of the differences in the Payment Gateway options that
Payment Gateways Part 2: How They Work Read More »
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
Interchange Change For Charities Read More »