StacyCat, interesting observation. Yes, only $500 and $250 goes to VISA. At PSW, 100% of the additional $250 and $150 go straight through our company even though we have to make sure our clients are following the regulations, handle additional customer support, prepare the data so that visa can have reports, etc. Thus, we're actually eating our new internal operational costs. Regardless, we refuse jump on the profit pony at our clients expense and we're still trying to see if we can trim off any more of the fees for clients.
However, other companies may plan to actually divide the extra fees (reread the original 3-company announcement, I believe they stated exactly who would be getting a cut of their administrative fees).
Originally post by TheFLY:
"that's where the Family comes in..."
Fly, that is some funny shit.
