Statement Notification February 2018
Statement Notification February 2018
Effective April 1, 2018, your fees will be updated as a result of changes by the card brands. These changes include MasterCard’s Acquirer Brand Fee, Visa’s Transaction Integrity Fee, and Visa’s Fixed Acquirer Network Fee (FANF) program. The changes are as follows:
- MasterCard’s Acquirer Brand Volume Fee (Assessment Fee) is increasing by 0.01%. This fee is applied to all of MasterCard’s sales dollar volume processed.
- Visa’s Transaction Integrity Fee is expanding to include all Visa credit card products, and before April 1, 2018, the fee only applied to debit and prepaid card products.
- Visa’s Fixed Acquirer Network Fee (FANF) program’s tiers 7 through 15 are changing. FANF applies to Visa card-not-present sales volume processed per Tax ID; fast food restaurants (MCC 5814); and unattended terminals (when all the gross sales volume is card present). Please review the FANF Program Tiers below.
FANF Program Tiers
| Tier | Monthly Gross Sales Volume | Current Fee Per Month | New Fee Per Month |
|---|---|---|---|
| 1 | Less Than or Equal to $199.99 | $0 | No Change |
| 2 | $200.00 - $1,249.99 | 15 basis points (0.15%) | No Change |
| 3 | $1,250.00 - $3,999.99 | $7 | No Change |
| 4 | $4,000 - $7,999.99 | $8 | No Change |
| 5 | $8,000 - $39,999.99 | $15 | No Change |
| 6 | $40,000 - $199,999.99 | $45 | No Change |
| 7 | $200,000 - $799,999.99 | $120 | $160 |
| 8 | $800,000.00 - $1,999,999.99 | $350 | $450 |
| 9 | $2,000,000.00 - $3,999,999.99 | $700 | $1,000 |
| 10 | $4,000,000.00 - $7,999,999.99 | $1,500 | $2,000 |
| 11 | $8,000,000.00 - $19,999,999.99 | $3,500 | $4,000 |
| 12 | $20,000,000.00 - $39,999,999.99 | $7,000 | $8,000 |
| 13 | $40,000,000.00 - $79,999,999.99 | $15,000 | $16,000 |
| 14 | $80,000,000.00 - $399,999,999.99 | $30,000 | $45,000 |
| 15 | Greater than or equal to $400,000,000.00 | $40,000 | $70,000 |