October, 1st 2019
The card associations have announced their annual changes to interchange rates. As a result of the association changes and our own pricing considerations, effective with your Oct 2019 statement, merchants may see rate and fee change. Below are the changes you will see:
Bank card authorizations fee may increase up to $0.0250
Monthly statement fee may increase to $10.00
October, 6th 2018
As a result of the association changes and our own pricing considerations, effective with your October 2018 statement you will be adjusting other line item fees to compensate such as monthly minimum up to $50, statement fee up to $15 and Government Compliance Fee up to $10.
April, 6th 2018
The card associations have announced their annual spring changes to interchange rates. as a result of the association changes and our own pricing considerations, effective with your may 2018 statement, received June 1st 2018 merchants, some merchants will see rate and fee increases. Below are the changes you will see:
American Express authorization fee may increase up to $0.040 more
Bank card authorizations fee may increase up to $0.0250 more
Your monthly statement fee will increase to $10.00
March, 1st 2017
As a result of the association changes and our own pricing considerations, effective with your march 2017 statement you will be billed an administrative fee of $129 to $185 annually.
January, 1st 2017
Visa has announced an increase to the misuse of authorization and the zero floor limit fees. These fees may appear as separate line items on your merchant statement. As a result, some merchants will see rate increases. This increase is changing from $0.0325 to $0.0755 for all transactions to which interchange is applied.
April, 18th 2016
Commencing with your next month’s statement you may notice a change in your fees and rate structure due to one or more factors. These modifications are a combination of compulsory charges, such as the MasterCard will increase the Acquirer Brand Volume Fee (Assessments) for consumer and commercial credit transactions greater than $1,000 by 0.01%.
All other terms of your existing agreement with Argus Merchant Services will remain unchanged.
Additionally, merchants will notice increases of up to 50bps (0.50%) for transactions on particular card types that do not meet the processing criteria of what the merchant was approved to accept. Examples of these card transaction types include but are not limited to: card not present, business cards and cards from foreign (non U. S.) banks. Argus Merchant Services will be adjusting other line item fees to compensate such as monthly minimum up to $50, statement fee up to $15 and Government Compliance Fee up to $10 for the complex structure of interchange fees and the interrelationships between the MasterCard’s Acquirer Brand Volume Fee and other fees.
April, 1st 2016
Visa will implement a Credit Voucher Processing Fee for credit transactions of $0.0195 and for debit and prepaid transactions of $0.0155. A new Visa System File Transmission Fee of $0.0018 will apply to all Visa transactions.
February, 4th 2016
Effective February 4, 2016, Pulse debit network is introducing two new interchange categories. International activity will now qualify for cross border/interregional rates at 1.10% + 0.75%. New prepaid interchange categories for prepaid retail, grocery and petroleum will also be introduced as follows:
December, 1st 2015
Accel will be incorporating a merchant participation fee of $8.00 per individual merchant point of sale location, which will be billed annually.
October, 1st 2015
Compliance and Interchange modifications have been announced impacting Visa and MasterCard, Discover and AmEx. For Visa, look for business card products to have new names but for rates to fall into existing Interchange programs. MasterCard commercial face-to-face Interchange programs will become obsolete with this activity shifting to Data Rate 2 Interchange. Discover is making edits to its AVS requirements and setting up support for a new US ecommerce Interchange program with rates aligned to start with CNP Interchange.
September, 1st 2015
ACCEL will increase fees for Supermarket Debit, Pin-Less Debit and Standard Debit for all merchants.
August, 1st 2015
STAR has announced a new annual Network Merchant Participation Fee of $12.00 per merchant location accepting STAR transactions. Also, STAR will increase the switch fee component of the debit network fees for all merchants. This increase is changing from $0.0325 to $0.0625 for all transactions to which interchange is applied.
July, 17th 2015
MasterCard will introduce a new Commercial Business-to-Business Interchange program. MBS (MasterCard B2B Product) is defined as a virtual product, as no physical card will be issued and transactions will always be considered card-not-present.
May, 1st 2015
The NYCE Debit network has announced an annual participation fee.
April, 18th 2015
Visa will modify the U.S. Acquirer International Service Assessment from 0.40% to 0.80% for non-US issuers and 1.20% for non-US issuers + non-US dollars. Visa will implement changes to allow commercial cards issued in the U.S. to receive the same VBV authentication and verification processing that currently applies to consumer cards.
April, 1st 2015
Visa will modify its Fixed Acquirer Network Fee (FANF). FANF will not apply to Taxpayer IDs in months when gross sales volume is less than $199.99. For Taxpayer IDs with gross sales volume between $200 and up to $1,249.99, the FANF will be assessed at a rate of 15 basis points (0.15%). To qualify, Taxpayer IDs must have 100% of their volume with one acquirer. Taxpayer IDs that use multiple acquirers will not be eligible. Along with this change, Payment Facilitators will no longer be permitted to aggregate Taxpayer IDs and volume (each Taxpayer ID and its associated volume will be individually reported).