Category: Payment Processing

VISA Makes Signature Optional for non-EMV Merchants

VISA Makes Signature Optional for non-EMV Merchants

In 2018, Visa announced that the capture and validation of a cardholder’s signature would be optional for all EMV®-enabled merchants. In light of the COVID-19 pandemic, effective 14 May 2020, Visa is extending the same policy change to all merchants, even if they have not deployed EMV chip capabilities, to reduce the need for customers to interact […]

Payroll Protection Program Info from SBA

Payroll Protection Program Info from SBA

The payment industry is getting hit very hard by the corona virus shutdowns. We are seeing as much as 90% reduction in processing, in some sectors. Payroll Protection Program (PPP) is live now for businesses. Independent Contractors can apply after April 10th.  PPP is a loan, a portion of which is forgivable, as long as […]

Elavon Cancels Idle Monthly Fees in Response to COVID-19

Elavon Cancels Idle Monthly Fees in Response to COVID-19

Due to a large number of businesses stopping their processing while the country is undergoing quarantine, Elavon has announce that is will suspend idle monthly fees for businesses that have no settled transactions for the month. Payment processors are experiencing significant cash flow pressures due to the corona-virus. Most are announcing massive layoffs and reductions […]

Major Changes in Interchange Credit Card Rates coming April 2020

Major Changes in Interchange Credit Card Rates coming April 2020

Card present businesses that use mostly qualified rates will benefit, while online businesses will see up to 40pts increase in credit card processing cost. According to the latest announcements by card brands, VISA has simplified their rate structure, increasing non-qualified rates while decreasing some card present qualified rates.  Timed to the sweeping credit card rate […]

Big Changes in VISA Interchange Fees

Big Changes in VISA Interchange Fees

Visa to increase Card Not Present Fees by up to 5%, while reducing Swipe fees up to 33% for large retailers. VISA is increasing Card-Not-Present eCommerce Fees between 4% for premium cards to 4.7% for traditional VISA Cards (between 4c and 5c on a dollar), while dropping Swipe Fees by a similar amount to attract […]

Scroll to Top