Revised Acquirer Assessment Fee in the Canada Region
Effective Date: July 1, 2022 Effective Details Revised Acquirer Assessment Fee will be effective. What Mastercard is Doing? Mastercard is revising the Acquirer Assessment Fee to the rate of USD 0.87 per USD 1,000 of assessable volume. Background This pricing revision is aligned to the value Mastercard provides to customers, merchants, and cardholders. Billing and Pricing Information This pricing for Acquirer Assessment Fee will be effective 1 July 2022, with the first billing occurring on 30 October 2022. …
Update to Interac Flash Interchange
Effective Date: July 7, 2021 Description: Effective January 29, 2021 Interac revised their rules to increase the Interac Flash contactless per transaction limit from $100 to $250. Issuers may optionally support Interac Flash contactless transactions up to $250 for their cardholders. As a reminder, under Interac rules, merchants are not permitted to set a per transaction limit on terminals. Impact: The Interac Flash interchange fees currently apply to Interac contactless transactions up to $100. Effective July 7, 2021 the interchange fees will apply to all Interac contactless transactions up to $250 based each merchant’s existing tier pricing qualification. Application: The interchange rates for each tier are as follows: Tiers Flat fee per transaction Criteria for each …
New Rules and Fees to Enhance Ecosystem Risk Performance
Effective Date: October 2021 Overview: Visa is introducing new rules, non-compliance assessments and fees to ensure clients properly use and action declined transaction response codes that will serve to improve authorization and mitigate invalid transactions. These changes are designed to drive improvements across the payments ecosystem by encouraging good business practices which will reduce fraud, improve authorization approval rates and reduce operational costs for the ecosystem. Securing Payment Environments EMV has rolled out in most countries and has reached a high level of maturity. Global Visa-processed data for the year ending December 2018 shows that 85% of issuer traffic at …
Delayed Effective Date for Acquirer Data Consistency System Integrity Fee
Effective Date: October 1 2021 Visa will delay the effective date of the acquirer data consistency system integrity fee for the Canada and U.S. regions from 1 April 2021 to 1 October 2021. The effective dates for all other system integrity fees remain the same. In 2019, Visa introduced a number of system integrity fees (formerly referred to as ecosystem risk performance fees) for the Canada and U.S. regions. The data consistency fee was introduced to reinforce the importance of presenting correct data to issuers in the authorization request, applied to acquirers and merchants that change authorization data between submissions. …
About Us
