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Categories >>
Banking & Investment >>
VISA
Merchant Accounts >>
Fees structure
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Payment Gateway
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Credit Card Processing
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by:
Bret
Morrison -
posted
(or last updated): 8th, January 2009
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Back
to: Internet
Merchant Accounts page |
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VISA
merchant accounts are obtained from any
of the acquiring banks or their affiliates
and it is not obtained directly from VISA
corporation itself. In fact VISA is an association
and not a banking institution. This is very
different than both Discover
and American
Express whereby both provide merchant
accounts directly and not through other
parties.
The integration
of VISA merchant account is done through
the merchant account provider and the payment
gateway service that you get from a processor.
You will need to have integration instructions
for having a payment gateway compatible
with your merchant banking.
Unlike Discover and American
Express, the fees for VISA merchant account
is somewhat complex, with some complicated
Qualified rates, Mid-Qualified rates, and
Non-Qualified rates. Other parameters that
can effect the pricing is whether business
or consumer card, whether debit or credit
card, whether Address Verification is used
or not and if the card is not-present during
ordering.
VISA
merchant account fee structure
Application fee of $100-$200 (but most often,
it is waived)
Setup fee of $50-$300 (but most often, it
is waived)
Discount rate: about 2.1% is reasonable
enough (Interchange
rate and fees are misleading)
Transaction fee: about 12-25 cents per transaction
(this is negotiable with your provider)
Monthly minimum of $25 (this is often non-negotiable)
Monthly statement fee of $8-$10 (this is
negotiable with your provider)
Statement fee/Customer support fee/Software
fee - all are silly fees and should be waived
Chargeback fees are about $20-$25 per chargeback
For more information on
fees description, see credit
card merchant fees. |
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