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Forums > Public Forums > QuickBooks Merchant Services - Innovative Merchant
Subject: Visa/Mastercard restructuring rate...

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baronshost
Posts:13
04/30/2007 2:23 PM Alert 
Visa and MasterCard have announced that they will be restructuring some of their processing rates. Due to the restructuring, IMS will be making changes to fees effective May 1. We will be notifying the merchant base via statement message on their March Statements.

We are excited to announce a reduction in the qualified rate by 4 bps for those merchants that are set up with a swiped rate. This is due to the fact that we will be moving some rewards cards from qualified to mid-qualified and others from mid-qualified to non-qualified. However, in order to keep pace with the association, we will need to increase the non-qualified rates. The increase will include an additional 13 bps for non-qualified sales. For example, a $100 sale would result in an additional $.13 for a “non-qualified” sale.
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Basically what this means is the new rates are as follows:

Qualified Rates (Card Swiped): 1.72% down from 1.76%
Mid-Qualified Rates (key-Entered): 2.44% remains the same
Non-Qualified Rates: 3.27% up from 3.16%
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Forums > Public Forums > QuickBooks Merchant Services - Innovative Merchant > Visa/Mastercard restructuring rate...


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