Visa © Fixed Acquirer Network Fee (FANF or FAN Fee)
Visa © recently introduced the Visa FAN Fee, which merchants everywhere began seeing as a new charge on their April merchant processing statements. The Visa © FAN Fee is a Visa © fee, and is a non-negotiable, card brand implemented fee. In a continuation of our commitment to fair merchant pricing and transparency, Premier Payment Systems has elected to pass the fee through direct to our merchants with absolutely no mark up.
| What is the Visa © FAN Fee? Visa © is revising their acquirer pricing structure to now include fixed fees as well as variable fees. For the purposes of the Fixed Acquirer Network Fee, a merchant entity will be defined by its Taxpayer ID(s). Does the fee apply to all businesses accepting Visa©?
Charitable and Social Service organization processing under MCC 8398 are exempt. How is the fee calculated?
Visa © has established Tiers for the FAN Fee. The Tiers are based on the following Merchant attributes:
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How is card present vs. card not present defined?
A card not present transaction is defined as having a Mail Order, Telephone Order or E-Commerce indicator.
A card not present transaction is defined as having a Mail Order, Telephone Order or E-Commerce indicator.
All other transactions are defined as card present.
However, according to the Merchants Payments Coalition, a national organization of retailers dedicated to credit card fee reform representing approximately 2.7 million stores, many retailers are complaining they unfairly end up paying both a brick-and-mortar FAN Fee and a card-not-present FAN Fee. If you have concerns about the FAN Fee, please see the column to the right for information on how to contact Visa ©.
However, according to the Merchants Payments Coalition, a national organization of retailers dedicated to credit card fee reform representing approximately 2.7 million stores, many retailers are complaining they unfairly end up paying both a brick-and-mortar FAN Fee and a card-not-present FAN Fee. If you have concerns about the FAN Fee, please see the column to the right for information on how to contact Visa ©.
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Can I dispute this fee or receive a refund? This is a pass through fee from Visa ©. Credits are not available. However, if there was an error in calculation, then a refund can be generated. Additional questions or concerns regarding the FAN Fee?
If you would like to address your questions, comments or concerns regarding the Visa © FAN Fee, please send your correspondences to:
Visa Inc.
P.O. Box 8999 San Francisco, CA 94128 â 8999 You may also locate the contact information for your elected Representative on the following site: www.house.gov/representatives/find/ |
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