No Fees for DuitNow QR Merchants Dear Valued Merchants, We want to reassure you that AFFIN BANK has not imposed any fees on our merchants regarding DuitNow QR transactions. All esteemed merchants can continue accepting DuitNow QR payments without incurring any charges until further notice. If you have any inquiries, please e-mail affinmax.helpdesk@affingroup.com.
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Payment Expert | High Risk Card Processing | Payments | Fintech | Payment Gateway | eCommerce | Merchant Services
Don't get ''catfished'' by your current acquirer, at Axcess Merchant Services we have banking partners with an appetite for high risk merchants including the online dating sector. If you would like to see how we can assist you with your payments - https://lnkd.in/exMK9ZYg #cardprocessing #dating #cardpayments #datingindustry #onlinedating
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In todays episode of Commonwealth Bank merchants are confused, I spied this little gem in a local Bakery. This is what happens when the Bank does not communicate with its SME merchants properly and leaves them to try and navigate this payment labyrinth unaided. My $11.30 purchase became an $11.50 charge to my American Express card. I dont begrudge this at all - but I feel for the merchant who thinks this will cover his costs which it wont. Something is very broken. Here are my thoughts ❌ Only 44% of CBA merchants have enabled Least Cost routing. 💯 of CBA merchants have the capability (56% dont use it) ❌ CBA deliberately confuses "Merchant Choice routing" with "Least Cost" ‼️Merchants must choose a threshold for debit card traffic to be routed ⚠️ CBA will not advise merchants what that threshold should be Reserve Bank of Australia is clear on its position with Least Cost routing for debit transactions. Do it, or we will mandate it. CBA could easily switch on all merchants to LCR AND tell them what their threshold should be which would lower the merchants costs dramatically. They could even make LCR happen automatically - but wont. The estimated savings to merchants across the network is $1 Billion annually. #payments #debitcards #creditcards eftpos Payments Australia Visa Mastercard
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Guess who's gouging.. This morning at Bondi Junction I saw this surcharge sign at a sushi outlet and snapped a pic. Fees passed on to customers ✅ Visa Credit and Debit 1.5% ✅ Mastercard Credit and Debit 1.5% ✅ eftpos Debit 0.30cents ✅ American Express 1.35% Average Merchant fees according to Reserve Bank of Australia (Oct Stats) VISA and MasterCard Visa debit 0.47% Mastercard debit 0.51% Visa credit 0.84% Mastercard credit 0.84% ‼️This has been blended and marked up to 1.5%. You can see the cross subsidy at work here especially considering that debit is around 75% of the market. Debit is subsidising Credit Lets look at eftpos eftpos Payments Australia is 0.28% and is being charged at $0.30 Average ticket of say $50 Makes the fee the equivalent of 0.60% Or 46% over American Express 1.38% Interestingly, 1.38% is what the RBA says too. RBA stats in the comments. #payments #debitcards #creditcards
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Introducing "Cart, Pay and Win 100% Cashback" campaign for our valued Faysal Islami debit card customers! Whether you're stocking up on groceries, refreshing your wardrobe, or indulging in delicious food deliveries, get ready to win 100% cashback with every online transaction. Don't miss out on this opportunity to save big while you shop! #Cashback #FaysalIslamiDebitCard #Savings #OnlineShopping"
Cart, Pay and Win 100% Cashback with Faysal Islami Debit Cards! Valid from 8th March till 8th May 2024. To apply for a Debit Card, WhatsApp us at 0310 1786786 Terms and Conditions Apply. #FaysalIslami #BarhoYaqeenKaySath #FaysalIslamiDebitCards #Cashback
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Unlock the full potential of your debit card & make it shopping ready! Watch the video to know the steps you need to follow to enable it. #BankofBaroda #bobWorld #DebitCard #AzadiKaAmritMahotsav #AmritMahotsav
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New from colleague Don Apgar is this report from the Javelin Strategy & Research Merchant Payments practice: The recent settlement of a class-action lawsuit pitting merchants against card networks Mastercard and Visa is attention-getting, not least of all for the $30 billion price tag. Merchants have long been vocal about rising interchange costs and what they view as an inability to exercise control over them. The settlement provides some relief in this area, but in the view of Javelin Strategy & Research, it’s more a course correction than a wholesale reworking of the bank card economic model. https://lnkd.in/gyC2-M_H #cardpayments #payments #merchant
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It's been a really interesting week so far talking to a number of ISO businesses about the pricing that they go out to their merchants with. With a number of main banks moving their Debit Card issuance to MasterCard from Visa it has had a material impact on the base cost that ISOs have for the transactions they process via an Aquirer. However, they are not always aware of the difference and in some cases I have seen have ended up selling Merchant Services at a loss because of it. We at The Payment Mentor Network understand the challenges that ISOs face in creating robust pricing models that reward both the seller and the ISO in todays price sensitive market. If this is something you need help with then please get in touch and see how we can help. #payments #pricing #priceitright
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