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Must pay 500$ a year to keep using Mastercard?!?!


:: Epoch News :: MasterCard's New Designation and You
MasterCard has created a designation for billing companies identifying them as Payment Facilitators. The MasterCard designation is quite similar to Visa's Internet Payment Service Provider (IPSP) program which began in 2002. Each Payment Facilitator is required to register their clients with MasterCard, as is already done with Visa. Epoch has taken all the necessary steps to ensure that you are fully compliant with the new rules.
The information that you have already provided for Visa registration will now also be submitted to MasterCard. There are no changes with your ability to process transactions with Epoch and business will continue seamlessly.
Sponsored merchants in the EU are currently exempt from Visa registration fees. However, EU sponsored merchants are required to pay the annual MasterCard registration. That fee is $500 and your account representative will contact you by email with further details as the due date approaches.
Within the new guidelines, sponsored merchants that process more than $100k per year in MasterCard sales will be required to sign a simple agreement acknowledging the terms and conditions of Epoch's banks. However, you will be able to continue to utilize all of the services, features and benefits of your Epoch account without any changes. Your account representative will contact you regarding this if it applies to you.
We appreciate being your payment solution of choice. Feel free to contact your account representative if you have any questions.
The Team at Epoch