Visa offers several different card types that banks can issue to their customers. The more “perks” that each card offers, the more they cost in interchange fees. See the main categories of Visa cards and see how it all works out by reading on.
CPS stands for “Custom Payment Service”. The CPS classification is typically known as the best rate structure offered by Visa, and CPS requirements are often the “minimum” qualification requirements for more advanced interchange rates. Read all about CPS here. In a nutshell – you have to first qualify for CPS rates before other more advantageous rate structures will apply. The “CPS Retail” category encompasses traditional consumer credit cards, as opposed to rewards/business/purchasing cards. Barring a few exceptions (below), most merchants are able to receive this interchange rate. Read on to see how different types of CPS Retail cards are assessed.
Almost all merchants are eligible for the Visa CPS Small Ticket program. Click through for the full qualifications – but typically, if you accept a sale that’s under $15, it will qualify for lower interchange rates from Visa.
The “Card-Not-Present” category is for key-entry Visa sales that meet CPS criteria (including AVS, keying on time, etc). Barring a few exceptions, most merchants are able to receive these interchange rates, and they’ll apply for most key-entry sales.
Supermarkets and grocery stores get heavily discounted interchange rates, since these types of sales are rarely disputed by cardholders. See the full qualification requirements for CPS Supermarket rates, and what other card types supermarkets/groceries can expect to see.
Visa CPS Restaurant rates are only available to restaurants and quick-serve fast food merchants. Restaurant rates are slightly higher than their retail counterparts. Click through to see what card rates restaurants can expect to see, and what potential downgrades will look like.