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Payment Processing

Payment Transaction Overview for Sales

by Murray

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
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Transaction Begins
Cardholder purchases goods
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Who gets Transaction 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.

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