Immediately switch to an Interchange pass-through pricing plan. For example, effective October 2010, Visa will extend Small Ticket Interchange to most merchants. This is an effective reduction in the overall Interchange costs for most merchants. However, few merchants will benefit since there is no difference between a transaction over or under $15 in their current merchant account contract. In fact this is just one example. Most merchants are … more
In our blog post Visa Changes Debit Debate, Backs Contactless, we suggested that extending Visa's No Signature Required (NSR) program (on transactions <$25) to most merchants (along with converging signature and PIN debit rates and expanding small ticket Interchange on transactions <$15) were policies that supported contactless payments.
Changing ingrained behavior takes time and doing it in steps makes sense. Step one, training merchants and … more
In an interview in the June/July 2009 issue of Cards&Payments magazine, Ellen Richey, global head of enterprise risk for Visa, discussed the adoption of chip technology to make purchases more secure. Richey said “the U.S is not going to be adopting a chip-and-PIN credit card or debit card any time in the very near future” suggesting that in the U.S., the deployment of a contactless-chip card network may not include a PIN component.
In October 2009, Best Buy announced that it would discontinue it’s acceptance of Visa contactless payment cards. Why? Best Buy reportedly took issue that Visa contactless lacked the option of PIN acceptance, while payment industry … more
Visa Signature Debit
Fee Program Current Fee April 2010 Fee
CPS Retail Debit 1.03% + $0.15 0.95% + $0.20
CPS Supermarket Debit 1.03% + $0.15 ($0.35 max) 0.95% + $0.20 ($0.35 max)
CPS Service Station Debit 0.70% + $0.17 ($0.95 max) 0.75% + $0.17 ($0.95 max)
CPS Automated Fuel Dispenser Debit 0.70% + $0.17 ($0.95 max) 0.75% + $0.17 ($0.95 max)
Interlink PIN Debit
Visa has announced changes in the pricing for Interlink debit transactions.
Fee … more
Effective October 2010, Small Ticket Interchange will be extended to most merchant category codes (MCCs). Current Small Ticket Interchange applies to transactions less than $15. The current Visa Small Ticket Credit Interchange is 1.65% + $0.04 and the Visa Small Ticket Debit Interchange is 1.55% + $0.04.
This is an effective reduction in the overall Interchange costs for most merchant categories. However, … more
Setting a Return Policy
Refund Best Practices
Handling Refund related Chargebacks
Beware of Refund Scams
Lower costs with Credit Voucher Interchange
Setting a Return Policy
A good return policy can help close sales. Your return policy or lack thereof can justify higher or lower cost as reflected by higher or lower risk of buying from you in the mind of your customer. Your return policy can even define your brand - think Nordstrom.
Handling refund requests in a way that makes good business sense and … more
