Helpful hints for university departments that accept debit/credit cards
Departments that accept credit/debit cards are known as merchants and are assessed fees by the card networks, issuers and processors. These fees are a function of various external and internal factors, many of which are outside the control of the merchant. However, there are a few things that merchants can control that will result in the best possible interchange rates and lowest possible fees. Click here for some helpful hints.
New Visa debit card transaction integrity fee
Effective 4/1/12 Visa began assessing a new fee to merchants that process certain Visa debit card transactions. The new fee, known as the transaction integrity fee (TIF), is in addition to the fees already being assessed to the merchants. To learn more about this fee, click here.