For U.S. payments businesses, it is very crucial to have a good rapport with banks. However, some merchants are tagged as high-risk due to factors such as rule non-compliance, financial instability, or fraudulent activities. The Terminated Merchant File (TMF) and MATCH (Member Alert to Control High-Risk Merchants) List serve here....
FANF Fee – Visa Fixed Acquirer Network Fee
The Visa Fixed Acquirer Network Fee (FANF) is a mandatory charge for businesses accepting Visa cards. Introduced in April 2012, FANF helps fund Visa’s network maintenance. The fee varies based on business type, transaction method (card-present vs. card-not-present), number of locations, and monthly Visa sales volume. While small businesses with...
Credit Card Assessment Fees: A Quick Merchant Guide
Credit card assessment fees are charges imposed on merchants by credit card networks for the processing of credit card transactions. These fees are an essential part of the credit card industry and play a significant role in the overall cost of accepting credit card payments. Understanding credit card assessment fees...
Understanding Merchant Account Fees
In today's fast-paced world, businesses need to accept multiple forms of payment to remain competitive. One of the most critical tools for doing so is a merchant account. A merchant account allows businesses to accept debit and credit card payments. However, these accounts come with a variety of fees that...
Understanding Payment Processor Fees
In today's digital age, businesses of all sizes rely on payment processors to handle their financial transactions. Whether it's an online store, a brick-and-mortar shop, or a service provider, payment processors play a crucial role in facilitating smooth and secure payments. However, it's important for businesses to understand the various...