How the new Visa Acquirer Fee affects you?

Visa Acquirer Fee

As of April 1, 2012 Visa implemented a new Fixed Acquirer Network Fee (FANF). This FANF is an expense merchants pay to be a part of the Visa network and applies to the acceptance of all Visa credit and check cards. The monthly fees are assessed based on the criteria below:
• Number of merchant locations- Depending on how many locations your business has factors in to the amount of the fee. The more locations you have the higher the fee may be.

• Merchant category code (MCC)- Visa will provide a full rebate on the FANF assessments for any merchants who are classified as Charitable and Social Service Organizations under Merchant Category Code 8398.

• Acceptance Method- The main factor in the fee is whether a majority of the transactions are card present or card not present.

– Card present transactions are based on the number of locations your business has with 1 location paying between $2.00- $2.90 a month all the way up to $185.00 for 4,000 locations.
– Card not present transactions are based on the gross Visa processing volume. The card not present transactions will see a greater impact due to the fee’s being determined by volume.

The FANF is a separate assessment from interchange fess and all funds collected from FANF are a direct profit to Visa, not Elavon or Perfect Processing.
!

Tags: , ,