OCTOBER 2018 INTERCHANGE CHANGES
The card companies are making several interchange adjustments and increases this fall and winter.
Visa: In April 2019, Visa will require an authorization on credit returns processed. These new credit authorizations will enable issuers to update cardholders’ online statements in real time. We’re hoping this will help reduce cardholder confusion and questions you field regarding refunds you have issued. Beginning October 2019, merchants will start being assessed an auth fee on credit return authorizations.
Effective January 2019, Visa is raising their assessments on credit transactions to 0.14%. Assessments on debit transactions will stay at 0.13%.
If you have any questions, please contact firstname.lastname@example.org.
Please enjoy these articles of interest we have included in the Fall 2018 Newsletter: