So, is everyone aware of the new Visa "Fixed Acquirer Network Fee" FANF that will be in effect April 1 2012?
If not, you can read about it here
. It appears Visa (and Mastercard shortly to follow) are attempting to make up for the loss they will face due to the Durban Amendment.
Either way, I want to know if anyone out there knows if this would be considered part of an Interchange fee that is directly the responsibility of the Merchant, or a fee that the Processor, or Acquirer, is responsible for? I know the fee will be passed down to the merchant and in some cases, added to cover the processing costs for collecting the required data, but is this fee a fee to the merchant or the processor?
I am curious as I work for a POS software company and most of our customers accept credit cards and are low ticket, high volume sales and this will affect them. I would like to be able to help them out as we are able to negotiate them with very low rates through a specific processor and we have a little bargaining power and I like to make sure our customers are not being taken for too much as the interchange rates alone are painful at times.
Thanks for any help and feel free to ask any questions you may have about the new FANF fee and how it affects you as a merchant, as I have been doing a lot of research on it.