davidjohn6366
Matrosen-Stabsgefreiter
Joined: 30 July 2022
Location: United States
Online Status: Offline
Posts: 136
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| Posted: 02 October 2022 at 22:07 | IP Logged
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The law mandates that every debit card transaction has to
be able to be processed on at least two networks, rather
than one. What this means is an issuer is in compliance by
having ONE network for processing signature debit and ONE
unaffiliated network for processing pin debit transactions.
And merchants are empowered by the law to direct the
network routing as they see fit, in advance, with the
acquirer.
In addition, for credit card payment transactions as well
as debit, the law empowers merchants to restrict payments
up to a minimum of $10 per sale and to set maximum payment
amounts. The choice is now yours to make to better manage
your payment card costs.
Beware of trying to select a lower cost processing network
over a higher cost network without evaluating what, if any,
additional fees exist for the service. And it is a dynamic
market which routinely changes as the networks jockey their
rates as they compete with each other. And now many
merchant services providers are coming out with a new
additional monthly fee charge for "lowest cost routing
services", that will often increases your total costs per
transaction and hurt, not help, your bottom line!
https://sites.google.com/view/merchant-services-iso-
agent/home#h.w9fzul7a50kt
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U47.org Forum :: The Cadet School
Topic: Merchant Services - The Secret to Attract
