This is the Beacon Payments blog. Learn about the credit card processing and the merchant services industry. Hear about the successes of our outside sales people whose job it is to sell merchant services and sell credit card processing programs.
Effective April 15th Visa will be making a change to their Fanf fee schedule that will benefit merchants who run less than $1250 a month in Visa sales. New volume tiers can potentially benefit small merchants in a big way. For example, and online retailer who runs $1200 a month will pay $1.80 per month with the new pricing versus $7 a month under the current structure. A client running only $200 a month will see their fee drop from $5 monthly to $0.
We have had many clients ask how they can figure out how much their monthly FANF fee is going to be. In our last post we published a chart breaking down these fees. Calculating your cost is fairly easy if you ONLY swipe cards or ONLY run non swiped cards. (IE: you run all your credit card processing over the phone or internet)...
Effective April 1, 2012, Visa will begin billing Acquirers a new monthly Fixed Acquirer Network Fee (FANF), which may vary each month.