Important MasterCard and Visa Interchange Updates
Visa and MasterCard have announced Interchange modifications to become effective April 2008.
Visa
Visa is implementing an International Service Assessment (ISA) fee on U.S. acquired transactions when the issuer country is foreign for both international purchase and cash advance transactions except on a U.S. military base, embassy or consulate.
Visa will modify Visa Signature Preferred card Interchange for Card Not Present (CNP), Retail and Corporate Electronic charge types as well are certain credit voucher rates.
Changes to the No Signature Required Program (US issued card transactions less than $25), which provides chargeback protection on eligible transactions for fraudulent transactions in a card present environment, is being expanded to include … more