PayPal to charge Visa fees, other options include ...

[raymor]

Pay Has announced that they will be charging the Visa fees,
but their are still some non-fee options.
Other "high risk" merchants may also have to pay the
big bucks in re the visa debacle with PayPal.

I know of two processors that apparently will NOT make you pay
these fees:
http://www.globill-systems.com/cgi-b...i?parent=3772s
http://links.verotel.com/cgi-bin/mak...04000000003128

Their announcement:
Dear Merchant,

We would like to update you on new Visa & MasterCard regulations that affect
the way Internet Payment Service Providers (IPSPs) such as PayPal conduct
business. Both Visa & MasterCard require high-risk merchants to complete a
registration form, pay an initial registration fee, and pay renewal fees on
an annual basis (details below).



We value our Merchants and are dedicated to providing you with the high
quality service to which you are accustomed. Please note that these fees are
imposed by Visa and MasterCard, not by PayPal. In keeping with PayPal's core
policy of not charging set-up costs and/or annual fees to our Merchants,
PayPal (in contrast with many IPSPs) will not add any additional or hidden
costs to these Visa & MasterCard fees.



PayPal, like all other IPSPs, must comply with the regulations. In order to
assure your continued access to PayPal's transaction platform, we need you
to provide the requested information by November 1st. If we do not hear from
you by the close of business on November 1st, PayPal will be unable to
process your transactions until all such information has been submitted.



While some IPSPs have announced that they will cease processing for non-US
merchants, that is not the case with PayPal. PayPal will continue to process
transactions for high-risk merchants in the United States, Canada and Europe
through our existing banking arrangements in these areas. In addition, we
will continue working to expand our banking relationships worldwide.



Below is a summary of the requirements for both Visa and MasterCard:



VISA:

* Visa will require an initial registration fee of $500

* Visa will require an annual renewal fee of $250

* Paypal must provide Visa with monthly sales, chargebacks and refund
information on each Adult merchant.



MasterCard:

* MasterCard will require an initial registration fee of $1,000

* MasterCard will require an annual renewal fee of $500





We will be sending another email out shortly requesting the specific
information we will need to bring your business into compliance with the new
regulations. We will also provide instructions on fee collection.



Ray

[m0rph3us]

$1000 dollars for Mastercard? geez


Is this for all internet retailers or just adult webmasters?

[BrettJ]

just an FYI - there have already been two threads on this that wer started earlier this evening ...

here's one that is still pretty active ... http://www.gofuckyourself.com/showth...threadid=83066