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Visa & MasterCard Raise Credit Card Processing Rates By: jon Visa & MasterCard have raised interchange rates again effective April 2005, but before we explain the increase lets look at what comprises a discount rate as these credit card processing rate increases are not simple. The discount rate you see on your merchant statement is based on the Interchange rate.Interchange is the rate Visa & MasterCard member issuing banks charge on credit card transactions. Similarly to how your mortgage is based on prime. Issuing banks are the banks that issue credit cards to cardholders. Contrary to popular belief, 80% of discount rate is paid to bank that issued credit card to customers patronizing your business. Interchange compensates card issuing institutions for their risk and the expenses they incur to process transactions. The fee amount is based on the level of risk associated with funding a transaction, in hopes of encouraging small businesses to follow procedures that reduce fraud. The interchange fee is determined by the nature of your business and the processing procedures you follow. Visa and MasterCard set these rates by assessing the level of risk associated with funding and expenses involved in processing a transaction . Every time Visa & MasterCard raise the interchange rates your credit card processor must decide to either absorb those increases or pass them on to you the merchant. Visa & MasterCard regulations stipulate that a merchant must be notified in writing of any rate increase and usually receives notice at least 30 days prior. You should see this notice in your March, April & May credit card processing statements. This year Visa & MasterCard raised rates about 10 basis points(for detailed increases see chart below). If you were paying 1.75% as of April 1st 2005 you will now be paying 1.85%. This amounts to a $1.00 increase per $1,000.00 of Visa MasterCard transactions to process through your terminal. This may vary slightly depending on how much your bank or processor has absorbed the increase. see www.accpconline.com rates ACCPC Online is only raising 7 basis points we are absorbing 3 basis points. These rates go into effect 1 April 05 so if you feel this increase will effect you significantly please contact us for a new rate comparison. You may have a small fee to cancel your current contract but the savings of the lower cost of credit card processing may offset this. Jonathan Saluk Business Development 1 866 922 2272 jonathan.saluk@4accpc.com Keywords: card processing, mastercard, card processing rate, card, credit, credit card, these credit card, credit card processing, visa &

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