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  • Maria’s Tacos: A Case Study on Growth and Success with Curv Payment Solutions 

    Maria’s Tacos: A Case Study on Growth and Success with Curv Payment Solutions 

    Overview:  

    Maria’s Taco Truck began as a small operation with a single truck, and with the help of Curv’s tailored payment solutions, it has now grown into a thriving multi-location franchise. This transformation showcases how choosing the right tools can drive success, boost efficiency, and unlock potential. 

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    Introduction to the Business & The Initial Challenge: 

    Maria started with a passion for serving delicious tacos to her growing base of loyal customers. As her business flourished, so did her needs—especially for a payment system that could handle increasing customer demand and keep transactions smooth and efficient. Maria needed a payment solution that was quick, portable, and error-free to match the high pace of her food truck’s environment. With growing popularity, managing these transactions efficiently was crucial to her success. 

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    Explore Curv

    Solution Implementation 

    1st: Curv Lite and Curv Mini: 
    Maria started her business with a food truck that focused on delivering quick, delicious meals to her growing number of customers. The compact size of her truck meant space was limited, and she needed a solution that was just as agile as her operation. The Curv Lite and Curv Mini systems were ideal for this setup, offering portable, easy-to-use devices that ensured rapid transactions. This efficiency helped maintain a smooth flow of customers, reducing wait times—a crucial aspect for a food truck in a bustling city. 

    2nd: Curv Quick Service Restaurant Bundle: 
    As Maria’s popularity grew, she noticed a consistent line of customers eager to enjoy her offerings, even during non-peak hours. Realizing the need to provide a more stable, permanent location for her customers, she decided to open her first storefront. With this expansion, her transaction volume increased, and the types of payments became more complex, involving more detailed customer management and inventory tracking. The Curv Quick Service Restaurant Bundle provided her with the robust features required to handle these changes, such as faster processing capabilities and more advanced transaction management tools, allowing her to maintain a high level of service despite the growing customer base. 

    3rd: Curv Restaurant Bundle: 
    Maria’s business continued to thrive, and soon, she faced new challenges that came with running a busier restaurant. The need for a more advanced system became apparent as she expanded her team and her menu, increasing both the volume and variety of transactions. Upgrading to the Curv Restaurant Bundle gave Maria access to additional features tailored for high-volume transactions and enhanced integration capabilities. This allowed her to manage multiple customer touchpoints efficiently, maintaining smooth operations across the board. 

    4th: Curv Restaurant Plus Bundle: 
    Maria’s entrepreneurial spirit didn’t stop there. As her business scaled further and she opened multiple locations, her focus shifted to maintaining consistency in quality and customer experience across all outlets. The Curv Restaurant Plus Bundle provided her with centralized control over multiple locations, ensuring uniformity in service and operational standards. This solution allowed Maria to oversee her growing empire efficiently, keeping her brand promise intact and customers happy across all locations. 

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    Explore Curv

    Results:   

    Thanks to Curv’s adaptable and powerful payment solutions, Maria’s business achieved remarkable growth and efficiency at every stage: 

    Increased Efficiency: Each system upgrade brought new features that optimized transaction times, enhancing customer satisfaction and loyalty. 

    Scalability: Curv’s scalable solutions enabled Maria to grow her business seamlessly, transitioning between systems without disruption. 

    Consistency Across Locations: With the final upgrade, Maria was able to maintain consistent service quality and operational standards across all her locations, enhancing brand reputation. 

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    Conclusion:   

    Maria’s journey from a single food truck to a multi-location franchise is a testament to the power of choosing the right tools for growth. Curv’s versatile and reliable payment systems were instrumental in her success, enabling her to meet the evolving demands of her expanding business. This case study underscores the importance of adaptable and efficient payment solutions in achieving long-term growth and success in a competitive market. 

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    Explore Curv

    Payarc

    October 10, 2024
    Uncategorized
    CURV, payment-processing, point of sale, restaurant payments
  • Payarc to Enhance Partner Experiences with New NMI MRM Integration

    Payarc to Enhance Partner Experiences with New NMI MRM Integration

    New API Integration Elevates Payarc’s Existing Services, Boosting Efficiency, Data Management, and Growth for Current and Future Partners

    FOR IMMEDIATE RELEASE 

    September 25, 2024

    Greenwich, CT – Payarc, a pioneer in payment processing solutions, is excited to announce a significant enhancement to its already best-in-class programs through an integration with NMI Merchant Relationship Management (MRM), the leading cloud-based business management platform for ISOs, agents, and sponsor banks. This integration aims to fortify the capabilities of Payarc’s partners by providing seamless access to your already existing merchant data in NMI MRM’s extensive data management and operational efficiency tools.

    What This Means for Payarc Partners

    For Payarc’s current partners, the integration with NMI MRM offers instant advantages. Partners can leverage the combined power of Payarc’s robust payment processing platform and NMI MRM to automate essential management and data functions. This collaboration enables real-time access to merchant data, transactions, batches, and statements, streamlining management tasks and significantly reducing the need for manual intervention.

    Here’s how Payarc’s ISO partners benefit:

    • Frictionless Data Management: The new API integration allows for effortless synchronization of merchant data across platforms, reducing the time spent on administrative tasks and enhancing the accuracy of data used in management decisions.
    • Increased Operational Efficiency: By automating routine management tasks, partners can allocate more resources towards strategic initiatives and client engagement, thereby enhancing overall business growth.
    • Scalable Management Efforts: With the combined capabilities of Payarc and NMI MRM, whether managing a small group of merchants or a large portfolio, scaling up management initiatives becomes more feasible and efficient.  

    Dustin Siner, Chief Revenue Officer of Payarc, said:

    “Our partnership with NMI demonstrates Payarc’s ongoing dedication to our most important customers – our third-party sales partners. This integration to NMI’s industry-leading business management platform allows our partners to streamline their operations and focus on what matters most – growing their businesses. We’re proud to support this powerful tool to our existing and future partners.”

    “We’re excited to further our collaboration with Payarc through the integration of NMI’s Merchant Relationship Management platform,” commented Rob Hoblit, Chief Revenue Officer of NMI. “This partnership not only underscores our commitment to empowering ISOs and their merchants with cutting-edge technology, but also enhances operational efficiency and scalability for Payarc’s partners. By providing real-time access to critical merchant data and automating management tasks, we are enabling businesses to focus on strategic growth and delivering exceptional value to their clients.”

    Why Future Partners Should Pay Attention

    For ISOs or agents aiming to amplify their management operations, this integration emphasizes Payarc’s commitment to providing cutting-edge technology and tools. Joining Payarc not only gives access to a seamlessly integrated ecosystem with NMI MRM but also allows for leveraging robust management tools designed to minimize operational friction and maximize control.

    This is your chance to utilize Payarc’s innovative solutions to advance your business further. From streamlining merchant onboarding, to optimizing payment processes and improving client retention, integrating Payarc and NMI MRM will be the key to future management operations.

    Empowering ISOs with Payarc and NMI MRM

    The integration between Payarc and NMI MRM equips ISOs with the advanced tools necessary to excel in the competitive landscape of payment processing. Whether you are already a Payarc partner or considering joining, this enhancement will provide the automation, efficiency, and scalability your management efforts need to succeed.

    Explore Payarc
    Payarc for Partners

    Janine Aboy

    September 25, 2024
    Uncategorized
  • The Evolution of Payment Processors: Why Modern Solutions with Payarc Are the Future

    The Evolution of Payment Processors: Why Modern Solutions with Payarc Are the Future

    The FinTech industry has evolved rapidly, driven by digitalization and accelerated by the COVID-19 pandemic. Online payments have changed a lot in recent years, showing the importance of flexible payment options.

    Despite these advancements, some companies still rely on legacy software built over a decade ago. This begs the question: can legacy systems meet today’s demands, and how do they compare to modern solutions?  

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    Legacy vs. Modern Payment Software: A Comparison  

    A payment gateway is a complex system that processes online transactions between merchants and customers, requiring stringent PCI DSS certification for security. Today, the market hosts both modern and legacy systems. Let’s explore the fundamental differences between them and why modern solutions, like those offered by Payarc, are superior. 

    Legacy Software: The Pros and Cons 

    Advantages of Legacy Software  

    • Enhanced Security: Legacy systems have improved security because they are custom-made with unique designs. Only the creators know these designs, which makes the systems harder to hack.  
    • Deep System Knowledge: Legacy software allows for in-depth understanding, making troubleshooting more straightforward.  
    • Customization: Businesses can highly customize legacy systems to meet specific needs.  

    Disadvantages of Legacy Software

    • Inflexibility: Designed for specific tasks, legacy systems struggle to adapt to new requirements or increased transaction volumes.  
    • Scalability Issues: Legacy systems lack the scalability needed to handle modern, distributed workloads.  
    • Outdated Infrastructure: Legacy software and hardware can make it hard to update and follow new standards, causing problems with compliance.  
    • Developer Shortage: Few programmers are proficient in outdated paradigms, driving up costs and slowing development.  
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    Modern Software: The Pros and Cons  

    Advantages of Modern Software  

    • Rich, Portable Infrastructure: Modern systems use frameworks and services that support scalable, versatile, and transferable solutions.  
    • High Scalability: Easily handle increased workloads by adding resources, unlike rigid legacy systems.  
    • Developer Availability: Popular modern technologies ensure a large pool of skilled developers, reducing costs and speeding up development.  
    • User-friendly and Adaptable: Modern software has intuitive interfaces and is designed for easy integration with other systems, making it user-friendly and adaptable.  
    • Easier Maintenance: Leveraging advanced methodologies and automated tools, modern systems are simpler to maintain and update.  

    Disadvantages of Modern Software  

    • Fault Tolerance: With numerous pre-structured nodes, the fault tolerance of modern systems can be lower, complicating management during failures.  
    • Knowledge Gaps: Developers rely on pre-written frameworks and services, potentially lacking deep understanding of the code.  
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    The Payarc Advantage: Embracing Modern Payment Solutions  

    At Payarc, we understand the need for robust, scalable, and user-friendly payment solutions. Our platform leverages the strengths of modern software to offer unparalleled benefits:  

    • Scalability and Flexibility: Handle increasing transaction volumes effortlessly with our scalable infrastructure.  
    • Seamless Integration: Integrate easily with existing systems using our APIs, enhancing every stage of the customer lifecycle.  
    • Enhanced User Experience: Enjoy intuitive interfaces and real-time onboarding, ensuring a smooth payment process.  
    • Comprehensive Support: Benefit from our dedicated support team and cutting-edge technology to stay ahead of the competition.  

    Conclusion  

    While legacy payment software has its merits, modern solutions like those provided by Payarc are essential for staying competitive in today’s fast-paced digital economy. By embracing modern technology, businesses can ensure flexibility, scalability, and superior customer experiences. Choose Payarc and transform your payment processing capabilities today. 

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    Janine Aboy

    September 5, 2024
    Uncategorized
  • Unlock the Power of AI with Payarc 

    Unlock the Power of AI with Payarc 

    In today’s rapidly evolving financial landscape, the integration of artificial intelligence (AI) is no longer a luxury but a necessity. The FinTech industry has undergone significant changes, driven by digitalization and the impact of the COVID-19 pandemic. At Payarc, we understand the critical role AI plays in transforming payment processing, enhancing security, and driving growth. Let’s explore how AI can elevate your business and why Payarc is your ideal partner in this journey. 

    The Impact of AI in Payment Processing  

    AI’s ability to analyze vast data sets allows for real-time decision-making, identifying potential fraud, approving or denying transactions, and ensuring compliance. According to a study by Publicis Sapient, 87% of consumers who have used Generative AI believe it can significantly improve their overall experience. Moreover, the Economist Intelligence Unit found that 86% of financial services executives plan to increase their AI investments through 2025, and Deloitte reports that 70% of financial firms already use machine learning. 

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    Payarc.AI

    Business Drivers of AI Technologies 

    Personalized Services

    AI enables businesses to enhance revenues by offering personalized services to customers and employees, significantly contributing to a positive customer experience. AI helps understand consumer behavior, enabling tailored decision-making. 

    Cost Reduction

    AI streamlines operations, reduces errors, and optimizes resource allocation. Enhanced efficiency not only cuts costs but also improves customer-centricity, which is crucial in a standardized financial product market. 

    Uncovering New Opportunities

    AI processes vast amounts of data to uncover insights and opportunities previously overlooked, guiding strategic growth initiatives. 

    Driving Growth by Reducing Risk

    AI minimizes risk and optimizes processes, particularly in high-volume, time-sensitive domains like payment processing and compliance. This leads to cost reduction and ensures regulatory compliance. 

    Faster Computing Power

    Advancements in alternative processors exponentially increase computing power, enabling AI to drive innovation and efficiency in various applications. 

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    Payarc.AI

    How AI Can Help Grow Payments 

    Document Management

    AI automates processes and decision-making in document management, enhancing compliance and streamlining audits. Unlike traditional OCR, AI comprehends document context, making it essential for diverse document formats. 

    Credit Scoring

    AI uses real-time data and personalized analysis for credit scoring, providing more accurate and forward-looking credit scores. This approach supports financial inclusion and reduces credit risk exposure. 

    Fraud Detection

    AI identifies suspicious patterns and activities in payments, reducing false positives and enhancing accuracy and efficiency. This is crucial in the surge of digital payments and Card Not Present transactions. 

    Compliance

    AI applies specific regulations and policies to business operations, ensuring accurate implementation and regulatory compliance. The AI market for compliance and governance is projected to grow significantly. 

    Know Your Customer (KYC) and Anti-Money Laundering (AML)

    AI automates KYC and AML tasks, freeing compliance specialists to focus on thorough risk assessments. AI systems quickly analyze vast amounts of data, uncovering risks that might be missed by humans. 

    Robos and Chatbots

    AI-driven chatbots and Robos offer tailored customer support, enhancing the customer service experience and providing quick, accurate responses. 

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    Payarc.AI

    Payarc: Harnessing the Power of AI 

    • Fraud/Risk/Underwriting: Real-time fraud prevention, risk assessment, and merchant underwriting powered by AI to fortify your business against threats. 
    • Customer Service: Enhanced customer service with AI chatbots and voice recognition systems that efficiently connect users to the right support 
    • Business Intelligence & Predictive Analysis: AI-driven predictive analytics forecast payment trends and merchant behaviors, empowering informed decision-making. 
    • Operational Monitoring Services: Automated compliance checks and dynamic pricing ensure regulatory alignment and competitive advantage. 
    • Sales Advisory: AI-enhanced lead scoring and automated recommendations translate data into lucrative opportunities and robust sales pipelines. 
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    Payarc.AI

    Payarc x Amazon Web Services 

    Payarc is collaborating with Amazon Web Services (AWS) to enhance business intelligence for its clientele. Leveraging AWS machine learning, generative AI, analytics, security, and business intelligence technologies, Payarc aims to redefine financial data analysis in the payment industry. 

    Zachary Martinez, CEO Payarc: “Our work with AWS signifies Payarc’s dedication to providing cutting-edge technology solutions. AWS’s cloud infrastructure and leading generative AI services embedded in

    Payarc’s proprietary business management platform will empower our clients with real-time insights and predictive analytics, setting new standards in the payment processing landscape.” 

    Greg Pearson, VP AWS Global Sales: “AWS is helping Payarc use advanced technologies like generative AI and analytics to enhance payment processing for customers, providing them with the visibility to make more informed financial decisions and optimize operations. We look forward to collaborating with Payarc to help them innovate more personalized and secure payment experiences that will support the company’s growth for years to come.” 

    Engage with Payarc.ai 

    Ready to unlock the full potential of AI for your business? Reach out to Payarc today to discover how Payarc.ai can elevate your business to new heights of intelligence and efficiency. Embrace a new era of payment processing with Payarc.ai. 

    Download E-book
    Payarc.AI

    Janine Aboy

    July 12, 2024
    Uncategorized
    ai, artificial intelligence, payment-processing
  • Discover the Lucrative World of SaaS Sales with PAYARC 

    Discover the Lucrative World of SaaS Sales with PAYARC 

    The Software-as-a-Service (SaaS) model has revolutionized the software industry, and PAYARC is at the forefront. As businesses increasingly seek out SaaS solutions for their operational needs, the opportunities for sales professionals have skyrocketed. Let’s explore how you can join the ranks of successful representatives and experience the benefits of partnering with PAYARC. 

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    Discover the Lucrative World of SaaS Sales with PAYARC 

    Understanding the Power of SaaS 

    In the past, businesses purchased software licenses for a one-time fee, hosted on their own servers. Then, SaaS emerged, offering cloud-hosted software accessible through subscriptions. This shift provided unparalleled advantages, such as easy scalability, regular updates, and reduced infrastructure costs. Today, SaaS solutions cover diverse sectors, including CRMs, billing software, warehouse management tools, and healthcare applications. 

    Discover the Lucrative World of SaaS Sales with PAYARC

    Mastering the SaaS Sales Process 

    At PAYARC, we equip our sales representatives with a well-defined sales process to achieve success in the dynamic world of SaaS. 

    • Prospecting: Utilize digital channels, blogs, social media, and events to connect with digital-savvy customers interested in SaaS solutions. 
    • Qualifying: Determine promising leads to focus your efforts on, using lead scoring tools and direct communication to gauge customer interest. 
    • Presenting: Engage in phone calls to understand customers’ pain points and present tailored solutions to meet their needs effectively. 
    • Closing: Navigate price negotiations and contract terms while emphasizing the value of our SaaS products. 

    The Path to SaaS Sales Success 

    Getting started in SaaS sales may seem daunting, but PAYARC offers valuable guidance and support to help you excel. 

    • Find a Mentor: Leverage the expertise of senior sales professionals to gain insights and overcome challenges. 
    • Focus on Your Technical Foundation: Cultivate a deep understanding of our SaaS products to effectively communicate their benefits to customers. 
    • Specialize in an Industry or Product Type: Develop expertise in a niche that interests you to excel in your sales efforts. 
    Download E-book

    Why Choose SaaS Sales with PAYARC? 

    Joining PAYARC’s team of SaaS sales representatives offers you a rewarding and lucrative career path. 

    Lucrative Earning Potential: Our sales representatives enjoy a combination of competitive base pay and uncapped commissions. 

    Continuous Support: Benefit from regular communication with our leadership team, ensuring you are aligned with our company’s direction. 

    Extensive Training: Receive comprehensive training on our cutting-edge SaaS products, enabling you to confidently address customer needs. 

    Are You Ready to Thrive with PAYARC? 

    If you’re a motivated and tech-savvy sales professional seeking a fulfilling career with excellent earning potential, sales with PAYARC is the perfect fit for you. Join us on this exciting journey, and together, we’ll make a profound impact on businesses worldwide. 

    Get in touch with us today to explore this incredible opportunity to become a top-performing SaaS sales representative at PAYARC! 

    Get Started Now
    Download E-book
    Discover the Lucrative World of SaaS Sales with PAYARC 

    Payarc

    August 9, 2023
    Uncategorized
    SAAS
  • Complying with Cash Discount and Dual Pricing Regulations

    Complying with Cash Discount and Dual Pricing Regulations

    In our previous blog post, “Navigating Cash Discount and Dual Pricing Regulations,” we explored the concept of dual pricing and cash discount as a solution for businesses to streamline payment processes and reduce costs. Today, we delve deeper into the benefits of complying along with best practices to ensure compliance. By understanding and implementing these best practices, businesses can enhance profitability, build customer trust, and avoid potential legal issues or financial penalties. Let’s dive into the benefits of embracing compliant payment strategies and the key guidelines for achieving success.

    Benefits of Compliance with Cash Discount and Dual Pricing

    Avoiding Penalties

    Compliance with regulations related to cash discounts is crucial for businesses to avoid legal issues and penalties. For example, violations of the Electronic Funds Transfer Act (EFTA) can result in fines of up to $1,000 per violation for individuals. For organizations, the fine is up to $500,000 per violation. Violations of the Truth in Lending Act (TILA) can result in fines of up to $5,000 per day for each violation. Additionally, businesses may be required to refund any overcharges to customers. Moreover, they would need to pay legal fees associated with a lawsuit or enforcement action. 

    Violation Fines

    PAYARC - Complying with Cash Discount and Dual Pricing Regulations
    PAYARC – Complying with Cash Discount and Dual Pricing Regulations
    PAYARC - Complying with Cash Discount and Dual Pricing Regulations
    PAYARC – Complying with Cash Discount and Dual Pricing Regulations

    Building Trust with Customers

    Compliance with regulations helps businesses build trust with their customers. Customers are becoming increasingly aware of pricing practices. They are more likely to do business with companies that are transparent and fair in their pricing. When businesses demonstrate their commitment to clarity and honest pricing practices, it increases customer satisfaction and loyalty. This leads to repeat business and positive word-of-mouth referrals. In addition, by providing clear and honest information about cash discounts, businesses can avoid misunderstandings and disputes with customers.  

    PAYARC - Complying with Cash Discount and Dual Pricing Regulations
    PAYARC – Complying with Cash Discount and Dual Pricing Regulations
    PAYARC - Complying with Cash Discount and Dual Pricing Regulations
    PAYARC – Complying with Cash Discount and Dual Pricing Regulations

    Maintaining a Good Reputation

    Another benefit of compliance is it helps businesses maintain a good reputation, an important way for businesses to attract and retain customers. By complying with regulations related to cash discounts, businesses can also avoid negative publicity and word of mouth about their business. 

    Overall, compliance with regulations related to cash discounts is crucial for businesses to avoid legal issues, build trust, and maintain a good name. Compliance also helps businesses ensure that they’re treating customers equally, which leads to increased customer satisfaction and loyalty. 

    Best Practices for Cash Discount and Dual Pricing

    1. Provide clear and conspicuous disclosures

    It’s crucial that businesses clearly disclose the terms and conditions of the cash discount to customers in a way that’s easy to understand. This includes disclosing the amount of the discount, any fees associated with the payment method, and any other relevant information. A common way to do this is by having a dual pricing sign near the cash register, explaining the discount.

    2. Ensure non-discriminatory pricing

    Cash discounts and dual pricing should be applied equally to all customers, regardless of the payment method they choose. Businesses must avoid practices that discriminate against customers who make the choice to pay with credit. 

    3. Keep accurate records

    Businesses should maintain accurate records of all cash discount transactions, including the amount of the discount, the payment method, and any associated fees. This can help businesses demonstrate compliance with regulations if they’re audited or face any legal challenges.

    4. Train employees

    Employees should be trained on the rules and regulations related to cash discounts. This can help ensure that they understand how to apply discounts correctly and how to communicate with customers about the program.

    5. Partner with a payment processor

    Working with a payment processing partner can help businesses ensure compliance with regulations related to cash discounts. Payment processors can provide guidance on regulatory requirements and best practices for cash discount programs, as well as handle the technical aspects of implementing the program. 

    By following these best practices, businesses can ensure that their cash discount programs are transparent, fair, and compliant with regulations. This will help them avoid legal issues and penalties, build trust, and maintain a positive reputation. 

    Conclusion

    In conclusion, compliance with cash discount and dual pricing regulations are crucial for businesses that offer this pricing strategy. Clear and conspicuous disclosures, non-discriminatory pricing, and accurate record-keeping are some of the best practices that businesses should follow to ensure compliance.  

    It’s important for businesses to work with a reputable payment processing company, such as PAYARC, to ensure that they’re offering compliant cash discounts. PAYARC’s Dual Pricing program is designed to help businesses offer cash discounts in a compliant manner, while also ensuring that customers are treated fairly and transparently. By working with PAYARC, businesses can enjoy the benefits of offering cash discounts while avoiding legal issues and penalties. 

    For general inquiries, including partnership opportunities, please email: support@payarc.com


    Download our e-book here

    Payarc

    June 22, 2023
    Uncategorized
    cash discount, dual pricing, mobile-commerce, payment-processing
  • How to Accept Credit Card Payments Online in 2023 

    How to Accept Credit Card Payments Online in 2023 

    Today, consumers in the US are 40% more likely to use a credit card when making a purchase. This is an important statistic to know since, in 2022, there were 268 million online shoppers in the US. That number also is projected to reach almost 285 million in 2025, making e-commerce more important than ever to consider. If you’re interested in setting up an e-commerce shop, you’ll need to know how to accept credit card payments online.  

    If you haven’t done your research, it can seem overwhelming, but there’s no need to overcomplicate things. Most importantly, you’ll need a payment processor. They should be able to minimize fraud, provide a secure experience, and have the flexibility to grow with your business. The global payment processing market size was valued at USD 47.61 billion in 2022 and continues to grow every year.  

    How to set up online credit card payments 

    Merchants can accept online payments with a merchant account and a payment gateway. A merchant account is a bank account that’s designated for businesses to accept credit card payments. Once a sale is completed, the profits land in your merchant account before being transferred to your business account. The money is usually held in the merchant account for a certain period before it’s transferred out. Merchant accounts are essential in knowing how to accept credit card payments online; otherwise, the money has nowhere to go. 

    The merchant account links to a payment gateway, where your customers input the information needed to pay you. The payment gateway is the online equivalent of a card processing terminal you can find in almost any physical store. It connects the different parties in the transaction and facilitates the delivery of funds. Using a payment gateway means you’ll have more personalized customer service since these providers are typically associated with larger companies. Meaning if you have any issues, you can likely get a real person on the phone to help you out.  

    With merchant accounts and payment gateways, you should expect fees, though some providers will be more competitive than others. Depending on who you choose, your transaction fees might be lower than average, or you might not have to pay setup fees.  

    Fees and Application Process  

    To get a merchant account or payment gateway for accepting payments online, you’ll need to apply for both. This is another crucial aspect of knowing how to accept credit card payments online. You’ll be asked for financial and business information, and once you submit everything, it takes just a few days for processing. Once you’re approved, you’ll set everything up by connecting the account to the gateway and the gateway to your store. Once you’ve completed the setup process, you’ll be ready to begin processing payments. 

    All-in-One Solutions 

    Some providers offer a merchant account and payment gateway as an all-in-one solution. Many of these solutions don’t charge monthly or setup fees, but you might have to pay more if you want extra features. Because this combo streamlines the transaction process, all-in-one solutions are quicker to set up, making it faster to accept payments online. Though these services are becoming increasingly popular, you should use at least one other payment processor. Doing this will allow customers to use their preferred method of payment. This makes another important factor of knowing how to accept credit card payments online. 

    Simplified Payment Processors 

    A simplified payment processor is a type of payment processor that offers a streamlined and user-friendly payment processing experience. Some simplified payment processors don’t need a merchant service account or payment gateway, typically meaning fewer fees for merchants. Their rates are competitive, and many don’t have setup or monthly fees. These payment processors integrate with your checkout pages, so your customers never have to leave the shop. Like all-in-one solutions, they’re easy to set up. Knowing the difference between types of payment processors is important in understanding how to accept credit card payments online.  

    Security and Fraud Prevention 

    Another important aspect in understanding how to accept credit card payments online is security and fraud prevention. As e-commerce grows, the fraud associated with it also grows and is expected to exceed $200 billion this year. There are several measures you can take to be secure and prevent fraud when accepting payments online. Here are some best practices: 

    • Use a secure payment gateway: Choose a reliable and secure payment gateway provider that uses encryption to protect sensitive data during online transactions. 
    • Verify customer information: Verify the customer’s name, billing address, and card verification value (CVV) to ensure the transaction is legitimate. 
    • Monitor transactions: Monitor transactions in real-time to identify suspicious activity, such as multiple transactions from the same IP address. 
    • Implement fraud detection tools: Use fraud detection tools to identify potentially fraudulent transactions based on specific patterns. 
    • Educate yourself and your staff: Stay up to date with fraud prevention techniques and educate yourself and your staff on how to prevent fraudulent activity. 
    • Use strong passwords and two-factor authentication: Use strong passwords and two-factor authentication to prevent unauthorized access to your payment system. 
    • Keep your software up to date: Keep your payment software up to date with the latest security updates to protect against fraud. 

    By implementing these best practices, you can minimize the risk of fraud and keep your online payments secure. 

    How can PAYARC help with accepting payments online? 

    PAYARC helps businesses accept payments online by providing merchant accounts and payment gateways that allow customers to securely input their payment information. PAYARC also offers fraud prevention tools, chargeback management, and customer service support.  

     

    Reach out to us today and start accepting credit card payments online! 

    Payarc

    March 29, 2023
    Uncategorized
    payment-processing
  • Card Brand Fees

    Card Brand Fees
    Ever wondered about those mysterious NABU fees on your statement?

    When you pick up your merchant services or credit card processing statement, you have probably seen pesky fees appear under a variety of labels. In most cases, these cryptic fees are labelled NABU (Network Access and Brand Usage Fees).

    NABU fees are also known as card brand fees and are paid directly to Visa, Mastercard, American Express and Discover. It’s important to note that although your credit card processor may collect the fee, it doesn’t mean they directly benefit. In most cases, the fee is passed in its entirety to the card brand.

    Why Pay Card Brand Fees?

    Look, we get it… you have enough overhead to deal with. Who wants to pay extra fees?

    Here’s the thing: card brand fees are a necessary evil for merchants who want to offer a variety of payment options to customers. The fees go towards ensuring the credit card company can continue serving merchants. Think of it as a small cost for the opportunity to accept their form of payment.

    Let’s face it, most customers carry multiple credit cards and they expect to be able to use any card in their wallet. If you fail to accept common forms of payment, you’re giving your competitors an advantage over you.

    How much am I paying in Card Brand Fees?

    You pay interchange fees or card brand fees every time a cardholder makes a payment with their credit card. The amount paid in fees can vary by industry, transaction risk level, bank, card issuer and your payment processor.

    Fees are typically used to cover these costs:

    Credit and Debit Assessments

    These fees can’t be avoided no matter which card issuer you choose. They are applied to gross credit and debit transaction volume and are paid directly to the card association (Visa or Mastercard).

    International Processing Fee: If a customer makes a purchase using a card originating from outside the US, you will be subject to an international processing fee. You may or may not see the international fee on your statement depending on your pricing model.
    Processing Integrity Fee: If a transaction doesn’t go through within a specific period of time, you may be subject to what’s called a processing integrity fee. Typically, the time window is 24 hours for “card present” transactions and 72 hours for “card not present” sales.
    Card-Not-Present Surcharge: These are fees you might typically see in e-commerce or mail-order transactions when the card is not physically present. Because these are considered riskier transactions, the fee is slightly higher than “card present” transactions.
    Account Status Inquiry Fee: This is a fee that is imposed when you verify cardholder information without actually charging the card.

    ‍

    Can I Reduce Card Brand Fees?

    Card brand fees are set by the credit card issuer. Unfortunately, these fees are not up for negotiation. Instead, we advise our clients to enforce best practices that can reduce costly penalties and fines.

    Need Expert Help to Manage Your Fees?

    We can help you gain control over your fees so that you don’t pay more than necessary.

    If you are a foundation or nonprofit, ask us about our special offers for payment processing fees.

    Visa Assessments

    ‍

    Visa Fee: Pass-Through cost.
    Credit Assessments: 0.14% of credit card volume and $0.0195/transaction. For a $100 credit sale, Visa takes about 16 cents.
    Debit Assessments: 0.13% of debit card volume and $0.0155/transaction. For a $20 debit sale, Visa takes about 4.2 cents.
    FANF: Fixed Acquirer Network Fee – Visa charges this flat fee based on how much volume you process per month. Online merchants and brick & mortar merchants have differing FANFs due to the difference in the risk of chargebacks.
    International Service Assessment Fee (ISA): Any card you accept as a US-based merchant, in USD currency, from outside the US will be subject to a 0.80% international surcharge from Visa.International Acquirer FeeThis fee applies under nearly identical circumstances as above – there is an additional 0.45% surcharge from Visa for non-US issued cards that are processed in the US.
    Transaction Integrity Fee (TIF): This $0.10/transaction fee is assessed when a settled debit/prepaid card doesn’t meet CPS requirements – such as submitting AVS info on keyed sales and settling every 24 hours.
    Zero Floor Limit Fee: This $0.20/transaction fee is assessed when a settled transaction can’t be linked to a proper authorization.Zero Dollar Verification FeeThis rarely applied fee of $0.025/transaction applies when cardholder information (AVS, CCV) is verified without authorizing the sale.
    Misuse of Authorization Fee: This $0.09/transaction fee applies to all authorized transactions that do not have a matching settled sale.
    Base II System File Fee: This $0.0018/transaction fee is charged for each authorized transaction submitted for settlement.

    MasterCard Assessments

    ‍

    MasterCard Fee: Pass-Through cost.
    Credit/Debit Assessments: 0.1275% of card volume and $0.0195/transaction for sales under $1,000. For a $100 sale, MasterCard takes about 15 cents.
    Credit/Debit Assessments: 0.1475% of card volume and $0.0195/transaction for sales over $1,000. For a $2,000 sale, MasterCard takes about $2.97.
    Digital Enablement Fee: This fee is 0.01% of volume, and applies on Card-Not-Present sales for commercial cards, consumer credit cards, and signature debit cards.
    Cross Border Assessment Fee (Domestic): Any card you accept from outside the US will be subject to a 0.60% international surcharge from MasterCard.
    Cross Border Assessment Fee (Non USD): Any card you accept from outside the US that is settled in non-US dollars will be subject to a 1.00% international surcharge from MasterCard.
    Annual Location Fee: This $15 fee is assessed to all merchants on a per-location basis and is billed monthly at $1.25/month. This fee does not apply to merchants processing under $200/month, and does not apply to charitable/religious organizations (MCC 8398 and 8661).
    AVS Fee (Card-Present): MasterCard assesses a $0.005/transaction fee for using Address Verification Services in a Card-Present environment.
    AVS Fee (Card-Not-Present): MasterCard assesses a $0.01/transaction fee for using Address Verification Services in a Card-Not-Present environment.
    Card Validation Code Fee: There is a $0.0025/transaction fee for all transactions that are submitted with the Card Validation Code (also known as Card Code Verification or CCV).
    Pre-Authorization Integrity Fee: $0.045/transaction fee applies to pre-authorizations that are not fully reversed or cleared within 30 calendar days of the authorization date.
    Undefined Authorization Integrity Fee: $0.045/transaction fee applies to undefined authorizations that are not fully reversed or cleared within 7 calendar days of the authorization date.
    Final Authorization Integrity Fee: 0.25% volume fee ($0.04 minimum) applies to final authorizations that are not fully reversed or cleared within 7 calendar days of the authorization date or when the final authorization amount does not equal the clearing amount or when the final authorization currency code does not match the clearing currency code.
    Processing Integrity Fee: This $0.055/transaction fee is charged when transactions are not settled within 24 hours for Card-Present sales, or 72 hours for Card-Not-Present sales.
    Processing Integrity Fee Detail Reporting: This $0.012/transaction fee applies to any authorization that generates a processing integrity fee for pre authorizations, final authorizations or undefined authorizations.
    Account Status Inquiry Fee: This rarely applied fee of $0.025/transaction applies when cardholder information (AVS, CCV) is verified without authorizing the sale.

    Discover Assessments

    ‍

    Discover Fee: Pass-Through cost.
    Credit/Debit Assessments: 0.13% of card volume and $0.0195/transaction for all sales. For a $100 sale, Discover takes about 15 cents.
    International Processing Fee: This 0.55% fee applies to any cards that settle in dollars that differ from the home country, so it’ll apply just like the International Processing Fee whenever you run an international sale.
    International Service Fee: Any card you accept from outside the US will be subject to a 0.80% international surcharge from Discover.
    Network Authorization Fee: This $0.025/transaction fee is charged for each authorized transaction submitted for settlement.

    American Express Assessments

    ‍

    AMEX Fee: Pass-Through cost.
    Credit/Debit Assessments: 0.15% of card volume is paid directly to American Express. On a $100 sale, this works out to 15 cents.
    Card-Not-Present Surcharge: American Express will charge 0.30% of all Card-Not-Present volume.
    International Assessment: This 0.40% fee applies to any cards you accept from outside the US.
    Noncompliance Fee: American Express will charge 0.75% of the sales volume when the sale does not settle within 7 days of authorization. This fee may also apply when calling for a voice authorization on a sale. If applied, this fee will be removed from one of your next few deposits.

    ‍

    Payarc

    January 14, 2022
    Uncategorized
  • Pricing Explained

    Pricing Explained

    Pricing is how a processor determines how a merchant will pay the credit card processing fees. In order to accept credit and debit cards, the merchant must pay. Depending on what your business does, how much you process, and many other factors, one pricing category may work better for your business than another in terms of less fees to pay.

    While the card network sets the original fees, ISOs, issuing banks, and payment processors can add their own fees onto that base rate. In order to make sure that you are getting a good rate, check the most recent guides that Visa and MasterCard have released and compare them to your own.

    Pricing rates can be categorized as tiered pricing, interchange plus pricing, and bundled pricing. Keep in mind that all of these rates may also come with an authorization fee per transaction.

    Tiered Pricing

    If your agent priced you under the tiered pricing category, then there are three groups of rates that you get charged depending on the type of card that your customer uses. These groups are the Qualified Rate, the Mid-Qualified Rate, and the Non-Qualified Rate. These can be further affected by the card brand, but most agents will price all brands the same way.

    The Qualified Rate applies to credit cards that meet the definition of standard in the merchant’s industry and are considered as such by the payment processor. These are the lowest rates out of the tiered pricing model. Cards that are swiped are usually considered to be “qualified,” although there are ways for merchants that primarily do business online to process at the qualified rate.

    The Mid-Qualified Rate is usually used for cards that are keyed in instead of swiped on the terminal. Additionally, if a customer is using a business card or a rewards card, the mid-qualified rate would also be used.

    The Non-Qualified Rate is the generally the highest of the tiered pricing rates. The non-qualified rate could apply to cards that are keyed in and don’t require address verification or a business card where not all of the necessary data is captured during the transaction.

    Interchange Plus Pricing

    Interchange plus pricing is exactly what it sounds like: the interchange set by the card network, plus the markup. For example, if Visa sets an interchange price as 1.80%, and the payment processor’s markup is .035%, then the processor charges the merchant 1.80% + .035%. Sometimes the card brand affects the interchange plus pricing quoted to you by your merchant services agent.

    Bundled Rate Pricing

    Bundled rate pricing is the easiest to understand: one rate for all transactions. While this seems attractive, just be sure that this model is right for your business. Businesses that do benefit from bundled rates tend to have small tickets and do very little credit card processing.

    Contact PayArc today to speak with our team about what pricing works best for you!

    Payarc

    December 9, 2021
    Uncategorized
  • July 2020 Card Brand Enhancement: New Interchange Programs

    July 2020 Card Brand Enhancement: New Interchange Programs

    New Interchange Programs

    In July 2020, Visa, Mastercard, American Express, and Discover are implementing new interchange programs.

    ‍Business Impacts

    Merchant portfolios may need to be reviewed to prepare profitability models to support these new interchange programs.

    Visa

    Canada Region

    Changes to Performance Tier 1 Fee Program for Visa Consumer Credit Transactions
    • Performance Tier 1 will be renamed Performance
    • Performance Tier 2 will be eliminated
    • Performance Card-Not-Present will be introduced for consumer credit transactions

    To qualify for Performance, retailers must have a minimum of $2 billion in total net VisaNet retail sales volume in Canada, a maximum fraud ratio of 0.07%, and a maximum chargeback ratio of 0.01%. This program applies only to electronic transactions.

    FPI IQSTA IC Level New Fee Program Name (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    C08 11842 1UQ VS Can Cons Cr Perform CNP CANCONPERCNP VS Can Cons Cr Perform CNP CAN CONPIT1 1.35% + $0.00
    C09 11843 1UR VS Can Cons Cr Perform CNP Is CANCONPERCNPIS VS Can Cons Cr Perform CNP Is CAN CONPIT1 IS 1.35% + $0.00
    C06 11844 1US VS Can Infin Perform CNP CANINFPERCNP VS Can Infin Perform CNP CAN INFPIT1 1.60% + $0.00
    C07 11845 1UT VS Can Infin Perform CNP Is CANINFPERCNPIS VS Can Infin Perform CNP Is CAN INFPIT1 IS 1.60% + $0.00
    F51 11846 1UU VS Can Hnw Perform CNP CANHNWPERCNP VS Can Hnw Perform CNP CA PT1 HNW 2.35% + $0.00
    F52 11067 1UV VS Can Hnw Perform CNP IS CANHNWPERCNPIS VS Can Hnw Perform CNP IS CA PT1 HNW IS 2.35% + $0.00

    ‍

    New Industry Fee Utilities Program for Visa Consumer Credit and Debit Transactions

    Visa will implement new Canada Industry Fee Utilities interchange programs that apply to Visa consumer credit and debit transactions from eligible merchants. To be eligible, a merchant must meet maximum service fee levels and must have Utilities (UTL) enabled in the boarding system.

    FPI IQSTA IC Level New Fee Program Name (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    I29 11848 1UW VS Can Cons Cr Utilities CAN CON UTIL VS Can Cons Cr Utilities CAN STND CR 0.00% + $0.75
    I30 11849 1UX VS Can Cons Cr Utilities Is CAN CON UTIL IS VS Can Cons Cr Utilities Is CAN STDCR IS 0.00% + $0.75
    F29 11850 1UY VS Can Infin Utilities CAN INF UTIL VS Can Infin Utilities CAN STDCR 0.00% + $0.75
    F30 11851 1UZ VS Can Infin Utilities Is CAN INF UTILIS VS Can Infin Utilities Is CAN STDCR IS 0.00% + $0.75
    F55 11852 1U0 VS Can Hnw Utilities CAN HNW UTIL VS Can Hnw Utilities CAN STDCR 0.00% + $0.75
    F56 11853 1U1 VS Can Hnw Utilities Is CAN HNWUTILIS VS Can Hnw Utilities Is CAN STDCR IS 0.00% + $0.75
    I39 11854 1U2 VS Can Debit Utilities CAN DB UTIL VS Can Debit Utilities CAN STND DB 0.00% + $0.10
    I40 11855 1U3 VS Can Debit Utilities Is CAN DB UTIL IS VS Can Debit Utilities Is CAN STDDB IS 0.00% + $0.10

    ‍

    New Emerging Segment Preferred Program for Visa Consumer Credit and Debit Transactions

    Visa will implement the following Canada Emerging Segment fee programs that will apply to Visa consumer credit and debt transactions from eligible merchants. Eligible merchants include the following MCCs of any transaction amount:

    • MCC 4900: Utilities
    • MCC 6513: Real Estate agents and managers – Rentals
    • MCC 9311: Tax payments
    • MCC 8398: Charitable and Social Service Organizations

    The following MCCs qualify if they transact amounts equal to or greater than CA$1000:

    • MCC 8211: Elementary and secondary schools
    • MCC 8220: Colleges, universities, professional schools, and junior colleges
    • MCC 8351: Childcare services
    FPI IQSTA IC Level New Fee Program Name (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    E34 11856 1U4 VS Can Cons Cr Emerg Pfd CA CON EMG PFD VS Can Cons Cr Emerg Pfd CAN EMG CON 0.80% + $0.00
    E35 11857 1U5 VS Can Cons Cr Emerg Pfd Is CACONEMGPFD IS VS Can Cons Cr Emerg Pfd Is CAN EMG CON IS 0.80% + $0.00
    E44 11858 1U6 VS Can Infin Emerg Pfd CA INF EMG PFD VS Can Infin Emerg Pfd CAN EMG INF 1.00% + $0.00
    E45 11859 1U7 VS Can Infin Emerg Pfd Is CA INFEMGPFDIS VS Can Infin Emerg Pfd Is CAN EMG INF IS 1.00% + $0.00
    F53 11860 1U6 VS Can Hnw Emerg Pfd CA HNWEMGPFD VS Can Hnw Emerg Pfd CAN EMG HNW 1.95% + $0.00
    F54 11861 1U9 VS Can Hnw Emerg Pfd Is CA HNWEMGPFDIS VS Can Hnw Emerg Pfd Is CAN EMG HNW IS 1.95% + $0.00
    E52 11862 1VA VS Can Debit Emerg Pfd CA DB EMG PFD VS Can Debit Emerg Pfd CAN EMG DB 0.00% + $1.00
    E53 11863 1VB VS Can Debit Emerg Pfd Is CA DB EMGPFDIS VS Can Debit Emerg Pfd Is CAN EMG DB IS 0.00% + $1.00
    ‍
    Changes to Domestic Interchange Fee Programs for Account Funding Transactions

    Visa will implement new Canada domestic Account Funding interchange fee programs that will apply to select proprietary card products:

    FPI IQSTA IC Level New Fee Program Name (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    C49 11955 1VC VS Can Aft Money Tran Net4 CAAFTMTNET4 VS Can Aft Money Tran Net4 CAN AFT P2P 0.05% + $0.25
    C50 11956 1VD VS Can Aft Money Tran Net4 Is CAAFTMTNET4IS VS Can Aft Money Tran Net4 Is CAN AFTP2P IS 0.05% + $0.25
    C51 11957 1VE VS Can Aft Top Up Net4 CAAFTOPUPNET4 VS Can Aft top Up Net4 CAN AFT P2P 0.05% + $0.25
    C52 11958 1VF VS Can Aft Top Up Net4 Is CAAFTOPUPNET4IS VS Can Aft top Up Net4 Is CAN AFTP2P IS 0.05% + $0.25
    C53 11959 1VG VS Can Aft Other Net4 CAAFTOTHNET4 VS Can Aft Other Net4 CAN AFT P2P 1.25% + $0.00
    C54 11960 1VH VS Can Aft Other Net4 Is CAAFTOTHNET4IS VS Can Aft Other Net4 Is CAN AFT P2P IS 1.25% + $0.00

    ‍

    US Region

    Changes to Interchange Fee Programs for Visa Consumer Transactions

    Visa will implement new interchange programs that will apply to purchase transactions from Visa consumer credit card products.

    FPI IQSTA IC Level New Fee Program Name (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    105 11868 1VI VS Non Qual Cons Cr NONQUALCONCR VS Non Qual Cons Cr DOMESTIC SALES 3.15% + $0.10
    105 11869 1VJ VS Non Qual Cons Cr Fuel Cap NONQUALCRFLCAP VS Non Qual Cons Cr Fuel Cap EIRF FUEL CAP 0.00% + $1.10
    146 11870 1VK VS Vin Travel VIN TRAVEL VS Vin Travel EIRF 2.30% + $0.10
    150 11871 1VL VS Vtr Spmkt Cr VTR SPMKT CR VS Vtr Spmkt Cr SIP CREDIT 1.50% + $0.07
    151 11872 1VM VS Vin Spmkt Sig/Inf VINSPMKTSIGINF VS Vin Spmkt Sig/Inf SIP CREDIT 1.65% + $0.07
    153 11873 1VN VS Vsp Viq Spmkt VSPVIQSPMKT VS Vsp Viq Spmkt SIP CREDIT 2.00% + $0.07
    ‍
    Changes to the Supermarket Credit Performance Tiers

    Visa will replace the Supermarket Performance Threshold fee descriptors, fee program indicators (FPI), and rates. The new structure will expand acceptance to include Visa Signature, Visa Signature Preferred, and Visa Infinite.

    FPI IQSTA IC Level New Fee Program Name (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    T01 11874 1VO VS Spmkt Tr 0 Rate 1 SPMKTTR0RATE1 VS Spmkt Tr 0 Rate 1 CPS/SMKT CRTR1 1.15% + $0.05
    T02 11875 1VP VS Spmkt Tr 0 Rate 2 SPMKTTR0RATE2 VS Spmkt Tr 0 Rate 2 CPS/SMKT CRTR1 1.40% + $0.05
    T11 11876 1VQ VS Spmkt Tr 1 Rate 1 SPMKTTR1RATE1 VS Spmkt Tr 1 Rate 1 CPS/SMKT CRTR1 1.15% + $0.05
    T12 11877 1VR VS Spmkt Tr 1 Rate 2 SPMKTTR1RATE2 VS Spmkt Tr 1 Rate 2 CPS/SMKT CRTR1 1.50% + $0.05
    T13 11878 1VS VS Spmkt Tr 1 Rate 3 SPMKTTR1RATE3 VS Spmkt Tr 1 Rate 3 CPS/SMKT CRTR1 1.55% + $0.05
    T21 11879 1VT VS Spmkt Tr 2 Rate 1 SPMKTTR2RATE1 VS Spmkt Tr 2 Rate 1 CPS/SMKT CRTR1 1.22% + $0.05
    T22 11880 1VU VS Spmkt Tr 2 Rate 2 SPMKTTR2RATE2 VS Spmkt Tr 2 Rate 2 CPS/SMKT CRTR1 1.55% + $0.05
    T22 11880 1VV VS Spmkt Tr 2 Rate 3 SPMKTTR2RATE3 VS Spmkt Tr 2 Rate 3 CPS/SMKT CRTR1 1.65% + $0.05
    T31 11882 1VW VS Spmkt Tr 3 Rate 1 SPMKTTR3RATE1 VS Spmkt Tr 3 Rate 1 CPS/SMKT CRTR1 1.22% + $0.05
    T32 11883 1VX VS Spmkt Tr 3 Rate 2 SPMKTTR3RATE2 VS Spmkt Tr 3 Rate 2 CPS/SMKT CRTR1 1.60% + $0.05
    T33 11884 1VY VS Spmkt Tr 3 Rate 3 SPMKTTR3RATE3 VS Spmkt Tr 3 Rate 3 CPS/SMKT CRTR1 1.75% + $0.05

    ‍

    Changes to Business Credit Interchange Fee Programs

    Visa will support a new spend qualified tier interchange program for Business card transactions with a Product ID of G5 (Business Tier 5).

    FPI IQSTA IC Level New Fee Program Name (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    148 11885 1VZ VS Non Qual Bus Cr NONQUALBUSCR VS Non Qual Bus Cr BUS ELEC T2 3.15% + $0.20
    157 11886 1V0 VS Business Travel BUSINESS TRAVL VS Business Travel BUS ELEC T2 2.70% + $0.10
    163 11887 1V1 VS Business Tr 5 Prod 1 BUSTR5PROD1 VS Business Tr 5 Prod 1 BUS ELEC T2 3.00% + $0.10
    178 11888 1V2 VS Business Tr 5 Prod 2 BUS TR5 PROD2 VS Business Tr 5 Prod 2 BUS ELEC T2 2.25% + $0.10
    161 11889 1V3 VS Business Tr 5 Lvl 2 BUS TR5 LV2 VS Business Tr 5 Lvl 2 BUS LVL2 T3 2.25% + $0.10

    ‍

    Mastercard

    Canada Region

    Enhancements to Intracountry Interchange Programs

    Mastercard is enhancing the Canada Domestic Interchange Programs by lifecycling the existing consumer credit programs and creating new ones. They are also restructuring the commercial programs by setting them up as Small Medium Enterprise, Large Market, and World Elite Business.

    IRD IQSTA IC Level New Fee Program (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    6A 11894 2RF MC Canada Consumer Contactless Core CA CNTLSS CR MC Can Cons Cntless CA CNTCTLESS 0.87% + $0.00
    7A 11895 2RG MC Canada Consumer Standard Core CA STD CORE CR MC Can Cons Std Core CA STND CON 2.06% + $0.00
    BC 11896 2RH MC Canada Consumer Merit I CP Chip Core CAMERIT1CPCHP MC Can Cons Merit1 CPChp Core CAN STND CON 0.92% + $0.00
    CD 11897 2RI MC Canada Consumer Charity Core CA CHARITY CR MC Can Cons Charity Core CAN CNS CHAR 0.92% + $0.00
    EN 11898 2RJ MC Canada Consumer Merit 3 Digital Comm Core CAMERIT3DIGCOM MC Can Cons Merit3 DgtlComm CAN CNS WRLD T1 1.76% + $0.00
    MJ 11899 2RK MC Canada Consumer Merit 2 Unsecure CP Core CAMRIT2UNSECCP MC Can Cons Merit2 UnsecCP CAN CNS WRLD T1 1.22% + $0.00
    RA 11900 2RL MC Canada Consumer CP Refund Core CA CP REFUND MC Can Cons CP Refund Core CAN STND CON 0.55% + $0.00
    RE 11901 2RM MC Canada Consumer CNP Refund Core CA CNP REFUND MC Can Cons CNP Refund Core CAN STND CON 1.06% + $0.00
    SA 11902 2RN MC Canada Consumer 3DS Core CA 3DS CORE MC Can Cons 3DS Core CAN STND CON 1.50% + $0.00
    UA 11903 2RO MC Canada Consumer Utilities Core CA 3DS CORE MC Can Cons Util Core CA UTILITIES 0.00% + $0.10
    6B 11904 2RP MC Canada Consumer Contactless World CA CNTLESS WRLD MC Can Cons Cntless World CAWRLDCNTCTLSS 1.16% + $0.00
    7B 11905 2RQ MC Canada Consumer Standard World CA STD WRLD MC Can Cons Std World CA WRLD STD 2.30% + $0.00
    BD 11906 2RR MC Canada Consumer Merit 1 CP Chip World CAMRT1CPCHPWRD MC Can Cons Merit1CPCHP Wrld CA CNS WRLD T1 1.22% + $0.00
    CE 11907 2RS MC Canada Charity World CA CHARITYWRLD MC Can Cons Charity World CA CNS WRLD CH 1.22% + $0.00
    EO 11908 2RT MC Canada Consumer Merit 3 Digital Comm World CAMRT3DGCMWRLD MC Can ConsMerit3DgtlComWrld CA CNS T3 2.00% + $0.00
    MK 11909 2RU MC Canada Consumer Merit 2 Unsecure CP World CAMRT2UNSCPWRD MC Can ConsMert2UnsecCPWrld CA CNS T2 1.52% + $0.00
    RB 11910 2RV MC Canada Consumer CP Refund World CA CP REF WRLD MC Can Cons CP Refund Wrld CA CNS WRLD T1 0.73% + $0.00
    RF 11911 2RW MC Canada Consumer CNP Refund World CA CNPREF WRLD MC Can Cons CNP Refund Wrld CA CNS WRLD T1 1.20% + $0.00
    SB 11912 2RX MC Canada Consumer 3DS World CA 3DS WORLD MC Can Cons 3DS World CA CNS WRLD T1 1.70% + $0.00
    UB 11913 2RY MC Canada Consumer Utilities World CA UTIL WORLD MC Can Cons Util World CA WORLD UTIL 0.00% + $0.10
    6C 11914 2RZ MC Canada Consumer Contactless World Elite CACNTLSSWRLDEL MC CanConsCntless World EL CAWRLDELCNTLSS 01.48% + $0.00
    7C 11915 2R0 MC Canada Consumer Standard World Elite CA STD WRLDEL MC Can Cons Std World EL CA WRLDEL STD 2.54% + $0.00
    BE 11916 2R1 MC Canada Consumer Merit 1 CP Chip World Elite CAMRT1CPCHPWEL MC CanConsMerit1CPECHPWrldEL CA WRLDSECCODE 1.56% + $0.00

    ‍

    IRD IQSTA IC Level New Fee Program (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    CF 11917 2R2 MC Canada Consumer Charity World Elite CA CHARITYWEL MC CanCons CharityWorld EL CA CNWRLDEL CH 1.56% + $0.00
    EP 11918 2R3 MC Canada Consumer Merit 3 Digital Comm World EL CAMRT3DGCMWREL MC CanConsMerit3DgtlCommEL CAWRLDELSECCDE 2.24% + $0.00
    ML 11919 2R4 MC Canada Consumer Merit 2 Unsecure CP World Elite CAMRT2UNSCPWEL MCCanCnsMerit2UnsecCPWrldEL CA WORLDEL T2 1.86% + $0.00
    RC 11920 2R5 MC Canada Consumer CP Refund World Elite CA CPREF WRDEL MC CanCons CPRefund Wrld EL CAWRLDELSECCDE 0.94% + $0.00
    RG 11921 2R6 MC Canada Consumer CNP Refund World Elite CA CNPREF WREL MCCanConsCNP Refund Wrld EL CAWRLDELSECCDE 1.34% + $0.00
    SC 11922 2R7 MC Canada Consumer 3DS World Elite CA 3DS WRLDEL MC Can Cons 3DS World EL CAWRLDELSECCDE 1.90% + $0.00
    UC 11923 2R8 MC Canada Consumer Utilities World Elite CA UTIL WRLDEL MC Can ConsUtil World EL CA WRLDELUTIL 0.00% + $0.10
    6D 11924 2R9 MC Canada Consumer Contactless Muse CA CNTLSS MUSE MC Can Cons Cntless Muse CA CNTCTLESS 1.57% + $0.00
    7D 11925 2SA MC Canada Consumer Standard Muse CA STD MUSE MC Can Cons Std Muse CA WORLDEL STD 2.69% + $0.00
    BF 11926 2SB MC Canada Consumer Merit 1 CP Chip Muse CAMRT1CPCHPMUS MC CanConsMerit1CPCHP Muse CA CNS T2 1.65% + $0.00
    CG 11927 2SC MC Canada Consumer Charity Muse CA CHARITYMUSE MC Can Cons Charity Muse CA CNWRLDEL CH 1.65% + $0.00
    MM 11929 2SE MC Canada Consumer Merit 2 Unsecure CP Muse CAMRT2UNSCPMUSE MC Can CnsMerit2UnsecCP Muse CA WRLDEL T3 1.95% + $0.00
    RD 11930 2SF MC Canada Consumer CP Refund Muse CA CP REF MUS MC Can Cons CP Refund Muse CA WRLDEL T3 0.99% + $0.00
    RH 11931 2SG MC Canada Consumer CNP Refund Muse CA CNPREF MUS MC Can Cons CNP Refund Muse CA WRLDEL T3 1.43% + $0.00
    SD 11932 2SH MC Canada Consumer 3DS Muse CA 3DS MUSE MC Can Cons 3DS Muse CA WRLDEL T3 2.03% + $0.00
    UD 11933 2SI MC Canada Consumer Utilities Muse CA UTIL MUSE MC Can ConsUtil Muse CA WRLDELUTIL 0.00% + $0.10
    17 11892 2RD MC Canada Commercial Small Medium Enterprise CA COMM SM MED MC Can Comm SM MED CA COMM LGMKT 2.00% + $0.00
    18 11893 2RE MC Canada Commercial World Elite CA COMM WRLDEL MC Can Comm World Elite CA COMM LGMKT 2.25% + $0.00

    ‍

    New Mastercard Enterprise Solution Wholesale Travel Program Product Codes

    Mastercard is expanding the Wholesale Travel Program by introducing 5 new commercial business-to-business (B2B) credit product codes and new commercial interchange programs in Interchange Rate Designators (IRD) BB.

    IRD IQSTA IC Level New Fee Program (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    BB 11934 2SJ MC Global Wholesale Travel B2B MBA GLWHSLTRB2B MBA MC GLBL WHSL TRAVEL B2B MBA GLWHSLTR B2BMBS 1.80% + $0.00
    BB 11935 2SK MC Global Wholesale Travel B2B MBG GLWHSLTRB2B MBG MC GLBL WHSL TRAVEL B2B MBG GLWHSLTR B2BMBS 1.60% + $0.00
    BB 11936 2SL MC Global Wholesale Travel B2B MBH GLWHSLTRB2B MBH MC GLBL WHSL TRAVEL B2B MBH GLWHSLTR B2BMBS 1.40% + $0.00
    BB 11937 2SM MC Global Wholesale Travel B2B MBI GLWHSLTRB2B MBI MC GLBL WHSL TRAVEL B2B MBI GLWHSLTR B2BMBS 1.20% + $0.00
    BB 11938 2SN MC Global Wholesale Travel B2B MBJ GLWHSLTRB2B MBJ MC GLBL WHSL TRAVEL B2B MBJ GLWHSLTR B2BMBS 1.00% + $0.00

    ‍

    US Region

    New Commercial Credit B2B Product Codes and Interchange Program

    Mastercard is expanding the Variable Interchange Program (VIP) by adding three new commercial product codes which will be supported in three new VIP interchange programs. Separately, Mastercard is creating a dedicated product code (BPC—Bill Pay Commercial) and interchange program (IRD X5—Commercial Bill Pay Standard) specifically for consumer bill payments that use commercial cards.

    IRD IQSTA IC Level New Fee Program (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    V5 11940 2SP MC B2B VIP 12 MC B2B VIP 12 MC B2B VIP 12 MC B2B VIP 1 2.15% + 0.10
    V5 11941 2SQ MC B2B VIP 13 MC B2B VIP 13 MC B2B VIP 13 MC B2B VIP 1 1.55% + 0.10
    V5 11942 2SR MC B2B VIP 14 MC B2B VIP 14 MC B2B VIP 14 MC B2B VIP 1 0.40% + 0.10
    X5 11939 2SO MC Bill Pay Commercial MC BILLPAYCOMM MC BILL PAY COMMERCIAL MC B2B VIP 1 2.50% + 0.10

    ‍

    Revised Interchange Program and Rates for Assurance Framework

    Mastercard is expanding the Merit 1 interchange program by introducing new consumer interchange programs that apply to Child Day Care Services (MCC 8351).

    IRD IQSTA IC Level New Fee Program (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    78, 88, 98 11961 2SS Merit 1 Day Care MERIT 1 D-C MC Merit 1 Day Care MERIT 1 R-E 1.60% + 0.10
    02 11962 2ST World Merit 1 Day Care WRLD M1 D-C MC World Merit 1 Day Care WRLD MERIT 1 1.60% + 0.10
    RP 11963 2SU Enhanced Merit 1 Day Care ENH M1 D-C MC Enhanced Merit 1 Day Care Enhanced Merit I 1.60% + 0.10

    ‍

    Discover

    US Region

    New Micro Ticket Interchange Programs

    Discover will implement new Micro Ticket U.S.Consumer Acquirer interchange programs that will apply to transactions that are less than or equal to $5.00 for either card present or CNP transactions.

    IRD IQSTA IC Level New Fee Program (PPM Description Name New MAS and TSYS Express Fee Descriptor New e-Connections Description Fee Item to Copy Interchange Rate
    817 11943 7KF DS Micro Ticket Debit MICRO TKT DB DS Micro Ticket Debit RETAIL DB 1.80% + $0.00
    818 11944 7KG DS Micro Ticket Prepaid MICRO TKT PD DS Micro Ticket Prepaid RETAIL PPD 1.80% + $0.00
    820 11945 7KH DS Micro Ticket Core MICRO TKT CR DS Micro Ticket Core RETAIL 1.95% + $0.00
    821 11946 7KI DS Micro Ticket Rewards MICRO TKT RW DS Micro Ticket Rewards RETAIL RW 1.95% + $0.00
    822 11947 7KJ DS Micro Ticket Premium MICRO TKT PR DS Micro Ticket Premium RETAIL PR 1.97% + $0.00
    823 11948 7KK DS Micro Ticket Premium Plus MICROTKT PP DS Micro Ticket Premium Plus RETAIL PP 2.05% + $0.05
    824 11949 7KL DS REGF Micro Ticket Debit RGFMICROTKT DB DS RegF Micro Ticket Debit RGF RETAIL DB 0.05% + $0.22
    825 11950 7KM DS REGF Micro Ticket Prepaid RGFMICRTKT PD DS RegF Micro Ticket Prepaid RGF RETAIL PPD 0.05% + $0.22
    452 11951 7KN DS REG Micro Ticket Debit RG MICROTKT DB DS Reg Micro Ticket Debit RG RETAIL DB 0.05% + $0.21
    453 11952 7KO DS REG Micro Ticket Prepaid RG MICROTKTPD DS Reg Micro Ticket Prepaid RG RETAIL PPD 0.05% + $0.21

    ‍

    Payarc

    December 8, 2021
    Uncategorized
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