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How to Process Credit Card Payments After Signature Rule Change

In late 2017 and early 2018, the card brands revealed a major change to their long-held signature requirements for credit card transactions. MasterCard, Discover and Amex announced they would no longer require signatures for magstripe and EMV transactions beginning in April 2018. Visa announced that signatures would still be required in the event of a chargeback dispute for magstripe transactions, but would be optional for EMV.
Christina Lavingia 5/17/2018 READ MORE
New FinCEN Requirements: How Obtaining a Financial Account Will Change

Any time you obtain a financial product, be it a bank account or a loan, you have to provide some personal information. This process protects the lender from fraud and ensures that the relationship is transparent.
Christina Lavingia 5/10/2018 READ MORE
Visa Chargeback Rules Changing April 2018

The payments space is ever evolving, so it should be no surprise that card brand rules change too. Despite the improvements in payment technology, chargebacks aren’t going anywhere. In an effort to streamline the chargeback dispute process, Visa is rolling out a new initiative — the Visa Claims Resolution (VCR) — to reduce time, costs and (hopefully) the number of chargebacks received.
Ursula Librizzi 3/6/2018 READ MORE
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.
Ursula Librizzi 12/21/2017 READ MORE
New Visa Transaction Integrity Fee in 2018

A new Visa transaction integrity fee will be charged starting April 14, 2018, on any credit transaction that does not meet the custom payment service (CPS) qualification standards. Visa, MasterCard, Discover and Amex update their Interchange guidelines biannually in April and October. This fee will be $0.10 per transaction.
Christina Lavingia 12/19/2017 READ MORE
MasterCard Assessment Fee Set to Increase to 0.13%

MasterCard announced that its assessment fee will increase to 0.13% effective April 8, 2018. The card brands update their Interchange guides biannually in October and April. This change will represent a 0.0025% increase from MasterCard’s October 2017 rate of 0.1275%, equating to an extra $0.13 in MasterCard assessment fees for every $5,000 processed per month.
Christina Lavingia 12/14/2017 READ MORE