Visa Interchange Rates Postponed Until April 2021 Visa recently announced that the majority of their interchange rate changes previously announced for April and October 2020 in the U.S. are now deferred to April 2021, with two exceptions: Visa will move forward with consolidating downgrade categories such as EIRF and Standard into a new Non-Qualified interchange […]
Category: Payment Processing
Payroll Protection Program (PPP) is live for businesses and will go live on April 10th for Independent Contractors (1099). To apply for the forgivable loans, business owners have to contact their bank. Independent contractors have to wait until April 10th. Note, that the assistance loan link on SBA web site is for non-forgivable loans ONLY.
In a prescient move, Visa has dramatically increased their fees for online processing, effective April. Mastercard also raised rates on two of their buckets. Discover and America express have increased the assessment fees by a point each. Businesses switching to or already processing most of their transactions online, may see up to 40pts hit on […]