Advantage Bulletin – January 10, 2018
Visa Introduces New Credit Integrity Fee
Visa will introduce a $0.10 transaction integrity fee applicable to credit transactions that do not meet the CPS qualification standards effective April 2018. The credit integrity fee will be assessed on Consumer Credit, Corporate and Purchasing, and Business non-CPS qualified transactions.
Discover and American Express Join Mastercard in No Signature Rule Changes
Discover and American Express have announced that Effective April 2018, they, along with Mastercard, are updating their rules to allow merchants the option to choose whether to collect a cardholder’s signature for all card-present point of sale transactions. Effective with this change, merchants will not be liable for chargebacks as a result of not capturing a signature for card-present transactions.
Eliminating the requirement for signature collection allows merchants the option to discontinue collecting signatures for all transactions or to set thresholds for signature collection at their discretion. Merchants interested in no longer requiring a signature may need to update their point of sale systems, however, the CVM settings should not be changed.