تدريب Shadowing: Visa Transaction Processing: Visa Processing Fees and Interchange Rate Basics - تعلم التحدث بالإنجليزية عبر الفيديو

Visa's payment processing ecosystem can power your business growth and economic progress, whether you operate around the corner or around the world.

VisaNet moves transactions quickly, seamlessly, and securely between cardholders, merchants, acquirers, and issuers.

As with any financial transaction, there are fees.

Let's talk through some common questions about these transactions and their related fees.

I hear a lot about the interchange fee.

What can you tell me about it?

The Interchange Reimbursement Fee, or IRF, is designed to balance the costs and benefits of business between the acquirer and the issuer.

The acquirer pays an IRF to the issuer for each cardholder purchase.

This fee operates as an incentive for the issuer

and helps offset issuer handling costs as well as risks associated with cardholder fraud and bad debt.

In return, the acquirer receives guaranteed funds from the issuer, which enables the merchant to close a sale even if the cardholder has not yet actually paid.

That guarantee is a significant value to the merchant.

Interesting.

So how is the IRF calculated for point of sale and online purchases?

Visa publishes a default interchange fee structure that is typically based on a percentage of the transaction amount,

but may also include a flat, per-item fee as well.

Why does the IRF rate vary from transaction to transaction?

IRF varies because of the unique business and processing requirements of transactions.

As such, IRF varies by the type of merchant, the cost of sale, the payment product used, the processing technology the merchant uses,

and the region or country.

Additionally, risk can be a driver of the IRF rate.

A greater risk can often mean a greater IRF rate.

For example, interchange fees are often higher for credit cards than debit cards, as there is a greater risk of funds not being available for credit purchases.

And certain business categories, like casinos, are considered riskier than other categories, like general goods.

Chip technology has helped to reduce some risks.

A merchant using a chip terminal may have lower interchange fees available

because reading a chip can be more secure than swiping a magnetic stripe or key entering a card number.

Transactions without a physical card, such as online, mail, or telephone orders,

may have even higher rates because they can pose substantially greater risks than transactions in which a chip is scanned, a magnetic stripe is read,

or a pin is entered.

So is the IRF a Visa fee?

No, the IRF is not a Visa fee.

Visa's role is to facilitate the transfer of the IRF.

So does Visa charge any fees for its services?

Yes, Visa charges fees, such as a data processing fee, to both the issuer and acquirer for transactions.

Are there any other fees we haven't talked about?

The acquirer charges the merchant a fee called the Merchant Discount Rate.

This fee covers the acquirer's processing services on the merchant's debit and credit card transactions.

Let's walk through an example that will help explain the settlement of fees and discounts.

Juan is getting ready for vacation and uses his Visa chip card to purchase $100 worth of beach gear at a local merchant.

Assuming an IRF rate of 0.5%, the acquirer owes $0.50 to the bank that issued Juan his card.

The merchant discount rate is $0.80, which the merchant pays to the acquirer.

So, at settlement, the acquirer deposits the remaining $98.70 into the merchant's account for the sale of the gear.

The merchant benefits from its profit on the sale and from knowing it has guaranteed payment from its acquirer.

And Juan benefits from a happy vacation with his family.

Okay, we've talked about merchant transactions.

What about ATM transactions?

In ATM transactions, the interchange payment roles are reversed.

The acquiring bank operates the ATM and therefore provides a service to the issuer's cardholder, namely providing cash.

The issuer pays the interchange fee to the acquirer for providing this service.

As you have seen, VisaNet provides proven, dependable payment processing capabilities.

When all transaction participants play by the same rules, you can feel secure knowing that you're part of a global network.

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تدريب Shadowing: Visa Transaction Processing: Visa Processing Fees and Interchange Rate Basics - تعلم التحدث بالإنجليزية عبر الفيديو

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