Since not all industries accept credit cards, Visa tries to incentivize “newer” industries with lower, more advantageous interchange rates. These are called Emerging Market interchange rates. The only qualifying business types are Schools, Government Offices, Insurance-sales, Fuel Dealers, Child Care Services, and Direct Marketing Subscription services. Charities and Telecommunication merchants are eligible for debit rates only.
- Must be classified as a School (MCC 8220, 8211, 8299), Government Entity (MCC 9399, 9211, 9222), Insurance Sales (MCC 6300, 5960), Fuel Dealer (MCC 5983), Child Care Services (MCC 8351), or Direct Marketing Subscriptions (MCC 5968).
- Eligible for debit only are Charities (MCC 8398) and Telecommunications (MCC 4814)
- Authorize and settle within 1 day.
- Obtain and pass 1 valid electronic authorization.
- AVS is optional for keyed/eCommerce sales.
- When processing a Non-PIN debit transaction the authorization and settlement amount must match.
What are the rates?
CPS Retail 2 CNP Debit - 0.65% + $0.15 (Capped at $2.00)
Downgrade (any reason): CPS Card-Not-Present Debit, 1.65% + $0.15/txn
CPS Retail 2 CNP Prepaid - 0.65% + $0.15 (Capped at $2.00)
Downgrade (any reason): CPS Card-Not-Present Prepaid, 1.75% + $0.20/txn
Regulated Debit - 0.05% + $0.22
Downgrade: This card type does not downgrade.
Only Schools, Government Offices, Insurance Sales, Fuel Dealers, and Child Care Services are eligible.
Charities and Telecommunications merchants are eligible for debit rates only.