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WRF Blog Update

Interchange and Network Fee Notification for Payment Processing – April 2018

Effective April 1, 2018, there are a number of new and revised interchange and network fee structures being implemented by VISA, MasterCard and Discover Card. Wind River Financial believes in transparency of all association fees applicable to your merchant processing costs, so we will be passing through these new fees with no mark-ups or changes. There are hundreds of fee structures and not all are applicable to all card types or to all merchants, so detailed below are the few that will affect most merchants’ day to day transaction processing costs. For a full listing of these new fees, you can read the complete April 2018 Interchange Modifications report.

VISA Transaction Integrity Fee (TIF) Addition – In April 2012, VISA introduced a $0.10 fee for each signature debit card that wasn’t eligible to qualify for the Custom Payment Service (CPS) program. The TIF charge will now be extended to U.S. domestic and certain inter-regional Visa credit card purchase transactions that fail CPS qualification. This fee will be charged in addition to the applicable interchange fee. To avoid this fee, make sure you obtain a card swipe for Card Present transactions and include an invoice number along with an AVS attempt for Card Not Present transactions. Please note. The new charge will not apply to credit refund transactions. For further information, please contact your Wind River Financial Relationship Manager.

VISA Interchange Fee Program Increases and Revisions – Effective April 1, 2018, Visa will modify the Fixed Acquirer Network Fee (FANF) rates for certain monthly gross sales volume tiers within Table 2 (i.e. All Card Not Present Volume, Fast Food Restaurants, and Unattended Terminals).

MasterCard Fee Program Increase and Revision – Effective April 1, 2018, MasterCard is revising the Acquirer Brand Volume Fee on consumer and commercial credit volume for transactions that are less than $1,000 USD as well as signature debit transactions.

Discover Card Fee Program Increases, Additions and Revisions – Discover will revise the rates for several international consumer and commercial credit card interchange programs.

As mentioned, you can read more about the interchange and network fee updates in the April 2018 report.

Big Changes for Accepting MasterCard – Action Required

There are some important changes coming to MasterCard this year regarding their BIN ranges and it affects any business that wishes to accept their card types.

What is a BIN range? BIN stands for Bank Identification Number and it’s the first six digits on a credit card that is used to identify the specific bank that issued the card and to route each sale correctly.

Why is this important? Coming soon in 2017, MasterCard is introducing a whole new BIN range starting with the number 2 (222100-272099). Traditionally all MasterCard credit lines have started with the number 5 so this will be a huge update for all types of softwares, point-of-sale (POS) systems or terminals that want to accept this very popular card type. If a system cannot identify this new valid BIN range, the card will reject and loss of sale/customer is at risk along with potential penalties from MasterCard.

What do I need to do? In preparation for these new BIN ranges from MasterCard, all merchants must review their payment systems to ensure the latest updates are installed by June 30, 2017. Doing this will allow the new MasterCards to be accepted at your business without incident. Follow specific direction below for your environment:

  • Virtual Terminal through Wind River – if you utilize a virtual terminal through Wind River such as TrustCommerce, NMI or Paytrace, no action is needed – all updates have already been completed to accept the MasterCard BIN ranges.
  • Terminals – In the case that a business is operating on an older terminal (“End of Life” Equipment/No longer manufactured), you will need to replace it. If you are unsure, contact Wind River and we can either order you an updated terminal or simply update the software inside the terminal if applicable. Please call us at 1-800-704-7253 x6828 to discuss.
  • POS or Software – If you work with a POS or specific software at your business, contact your reseller to verify that your system will be able to support the new MasterCard BINs.
  • E-Commerce – If you accept payments through your website contact your shopping cart provider or your website provider.

We want our clients to avoid any potential fines from MasterCard at all costs so if you are unsure on next steps or simply have a question, please call and speak to one of our Relationship Managers at 1-800-704-7253 x6828 or email us at info@windriverfinancial.com. We’d be glad to help walk you through your options. For more information regarding this change from MasterCard, please visit MasterCard’s website directly here.

April 2016 Interchange and Network Fee Notification for Payment Processing

There are a number of new and revised fee structures effective April 1, 2016 being implemented by VISA, MasterCard, and Discover Card. Wind River Financial believes in transparency of all association fees applicable to your merchant processing costs, so we will be passing through these new fees with no mark-ups or changes. There are hundreds of fee structures and not all are applicable to all card types or to all merchants, so detailed below are the few that will affect most merchants’ day to day transaction processing costs. For a full listing of these new fees please go to our website in our Merchant Portal and Resource Library, Pricing and look for the title April 2016 Interchange Modifications.

VISA New Fee Program Visa will introduce a new BASE II Credit Voucher fee on all credit transactions. Previously there has been a fee for the settlement of a sale, now there will also be a fee for the settlement of a credit refund transaction. For details click here.

MasterCard Fee Program Increase and Revision – MasterCard is revising the pricing structure by adding a new tier for the Acquirer Brand Volume Fee on consumer and commercial credit volume for transactions that are of USD $1000.00 or higher. For details click here.

Discover Card Fee Program Increases – Discover will be making a general change to the rates of the existing Acquirer Data Usage, International Processing Fee and International Service Fee. Click here for details.

NYCE Merchant Location Participation Fee Increase– The NYCE Network will raise their annual Merchant Location Participation Fee from $7.00 to $10.00. This increase will be reflected on our statements for all merchants accepting NYCE PIN debit cards in the past 12 months.

If we can help you further understand these changes please contact us by calling Client Care 800 704-7253 or by clicking here.

October 2015 Interchange and Network Fee Notification for Payment Processing

Effective October 1, 2015, there are a number of new and enhanced fee structures that are being implemented by VISA, MasterCard, Discover Card, and other network providers. Wind River Financial believes in transparency of all association fees applicable to your merchant processing costs, so we will be passing through these changes with no additional mark-up. For a full listing of these new fees please go to our web site in our Merchant Portal and Resource Library and look for the title October 2015 Interchange Modifications.

VISA Interchange Fees and New Programs – Visa will Implement new U.S. interchange programs to support tier qualification requirements for business card transactions. For details click here.

MasterCard Interchange Fees -MasterCard introduced new Interchange programs for U.S. Data Rate 1 Healthcare for the MasterCard Commercial Payments Account and MasterCard Prepaid Commercial Payments Account products. Click here for details.

Discover Card Rate Changes for Existing Prepaid Interchange Programs – Discover will implement new U.S. interchange programs for e-commerce transactions. Click here for details.

Wind River Fee Changes- On October 1, 2015 Wind River will increase PCI non-compliant fees by $5.00 per month.

EMV Liability Shift – On October 1, 2015 card present counterfeit fraud liability will shift to the party that has the lesser technology. Therefore if the merchant is not EMV enabled the counterfeit fraud liability will shift to them. For details click here.

April 2013 Interchange and Network Fee Modification Notification for Payment Processing

There are a number of new and enhanced fee structures effective April 1, 2013 being implemented by VISA, MasterCard, Discover Card, and other network providers.

Wind River Financial believes in transparency of all association fees applicable to your merchant processing costs, so we will be passing through these new fees with no mark-ups or changes. There are hundreds of fee structures and not all are applicable to all card types or to all merchants, so detailed below are the few that will affect most merchants’ day to day transaction processing costs.   For a full listing of these new fees please go to our web site in our Merchant Portal and Resource Library and look for the title April 2013 Interchange Modifications.

VISA Interchange Fees and New Programs – Visa will make interchange fee changes in their programs for prepaid cards, Utility fee programs, and Credit Voucher programs. They will also be expiring certain interchange programs. Click here for details.

MasterCard Interchange Fees – MasterCard introduces a new Prepaid Online bill payment interchange program and rate changes to existing consumer and commercial cards. Click here for details.

Discover Card Separation of Prepaid and Debit Interchange Programs – Discover will separate Prepaid and Debit categories for several existing interchange programs. Click here for details.

VISA Agent Registration Fee – Visa has implemented an Agent Registration Fee which will be .005% of Visa volume and be reflected in the Visa assessment line item on monthly statements.

Pulse Merchant Participation Fee – The Pulse Debit Network will charge a $6.00 annual participation fee to merchants processing a pin debit transaction on the Pulse network anytime throughout the year.