All Posts by Ursula Librizzi

Visa Increasing Fixed Acquirer Network Fee (FANF) Rates

Visa Increasing Fixed Acquirer Network Fee (FANF) Rates

Visa imposed a monthly fee in July 2012 called the fixed acquirer network fee (FANF) to incentivize businesses to route transactions to Visa. This implementation was a direct result of the Durbin Amendment, and was intended to level the competitive landscape for Visa. The incentive was simple: the more transactions routed to Visa, the lower the cost per transaction. Overall, Visa's acquirer fees would be reduced in aggregate. Let’s go over how a FANF fee is assessed. How Visa Determines the Fixed Acquirer Network Fee Not every business will pay the same amount for the FANF fee, and calculating…

MasterCard Revisits Rules Around Card Validation

MasterCard Revisits Rules Around Card Validation

All four card brands (Visa, MasterCard, Discover and Amex) provide written rules and regulations for processing their cards to ensure sound business for all. MasterCard recently changed its standards around determining card validity at checkout. MasterCard Processing Rules In its most recent transaction processing rules, which were published on June 1, 2017, MasterCard required businesses to take steps to validate the authenticity of a card at checkout. The steps are as follows: Check the valid date and the expiration date on the front of the card. If the card is expired or not yet valid, obtain an authorization from the…