More Costly Network Fees Are Coming…
19th October 2018Contributor:
Callum Godwin
Related Tags
CMSPI estimates that network fee increases from Visa, effective in January and April 2019, are set to cost U.S. merchants $570m annually.
January is fast approaching, so merchants must act now to ensure they fully understand the impact these increases will have on their business and operations. If this feels like the same story over and over again, you’re right, but we can’t stress enough the importance of being prepared, understanding what’s to come, and having a plan to mitigate against these increases.
These fees are going to be costly for many merchants across a variety of different industries, especially those accepting international payments. The networks are continually chipping away at any regulatory benefits and it won't be long before Durbin has been completely circumvented.
Callum Godwin | Chief Economist
Get in touch using the button below and speak to our consultants about mitigating the impact of these significant upcoming changes.
You Might Also Be Interested In These...
We take a deep dive into approvals and declines in North America, and explain why false declines are costing the merchant community billions every year.
Read More >It’s time for the Durbin text to be reviewed in several areas – we highlight those areas and look to the future.
Read More >We investigate the upcoming EMV liability shift and the FTC’s inquiry into debit card routing restrictions.
Read More >For every $100m of online spend during the Black Friday and Cyber Monday period, online merchants lost an average of $2m in revenue to false declines.
Read More >