Quote:
Originally Posted by Verotel
Q: How come you guys don't have to charge the $750 fee?
A. It is my understanding that the fees that you pay ($750 in the case of CCBill and Epoch and NOTHING or $350 in the case of TicketsClub or Classic) are not fees required by the credit card companies but are either processor or acquiring bank specific. In our case our TicketsClub bank charges nothing and our Classic bank charges $350.
|
You are incorrect!!!
A VISA approved Internet Payment Service Provider or IPSP has to follow these rules.
If you are a US-Based business and want to process transactions through the VISA network, VISA and the acquiring banks require that you do the following:
1. Register your business as a VISA-sponsored merchant
2. Pay an initial registration fee of $750, and an ongoing annual fee of $375 to maintain your VISA-sponsored merchant status.
These fees apply to high risk businesses only!!!