The Card Associations
MasterCard and Visa are worldwide payment service organizations composed of member institutions. They do not:
- . Issue credit cards.
- . Create policies for solicitation of new cardholders or merchants.
- . Establish criteria for evaluating applicants.
- . Set credit limits offered to cardholders.
- . Determine procedures for billing customers.
Components of Bankcard Fees
- . Interchange
- . Assessments
- . Authorization Fees
- . Processing Fees
- . Processor Optional Fees
- . Chargeback and Retrieval Fees
- . T & E Authorization and Processing Fees
- . Ancillary Communication and Network Fees
- . Hardware and Software Fees
What are the transaction fees?
Every transaction fee that a merchant is charged includes three parts: Interchange, network fees and ISO/agent profit. Depending on the card type and Interchange level, we can pay anywhere from $0.02 to $0.15 to the issuing banks. Depending on the network through which we choose to process the transaction, there also can be up to an additional $0.11 per-transaction cost. Anything over the Interchange and network fees is the ISO/agent?s profit.