Credit card associations, such as MasterCard, and Discover, are enforcing new fees effective this month (October 2013).
Depending on who your credit card processor is, you may see this as a new line item on your statements (example below), OR it may already be built into your rates- consequently causing a rate increase.
· Discover Network Authorization Fee – assessed at $0.0025 per Discover transaction
· CVC2 MasterCard Fee – assessed at $0.0025 per MasterCard transaction
This fluctuation in fees (otherwise known as “interchange” fees) is completely normal and typically occurs every October and April. There are times when these fees increase (like this month), but also times when they are lowered.
If you have any questions, please contact us at Easy Pay Direct at 800.805.4949. We would be happy to talk you through these modifications.