Exactly how the fee will be waived isn’t quite clear, but indications are that Visa will charge the FANF and then provide a rebate at a later date.Īdditionally, businesses with less than $200 of monthly volume will not be charged the fee.
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Visa will waive the FANF for charitable organizations classified under merchant category code 8398. Remember, if business accepts cards in both card-present and card-not-present methods, FANF fees apply to each method. Card-not-present businesses will see a greater impact from the FANF than card-present businesses due to the fee being determined by volume.įor example, card-not-present business processing between $8,000 and $39,999 will be hit with a Fixed Acquirer Network Fee of $15 a month opposed to just $2 for a card present business with similar volume and one location. Card-Not-Present Businesses (As well as Fast Food Restaurants / MCC 5814)įor card-not-present businesses, the amount of the FANF will be based on gross Visa processing volume.Businesses with one location will be charged $2 – $2.90 a month, up to $85 a month for businesses with 4,000 or more locations. The amount of the Fixed Acquirer Network Fee for card present businesses will be based number of locations. Card Present Businesses (Excluding Fast Food Restaurants / MCC 5814).For businesses that have both, card-present and card-not-present FANF will both apply. The main factor in determining the amount of the FANF is whether a business processes the majority of its transactions in a card present or card not present environment. However, the impact of the MCC is minimal, amounting to a difference of $0.90 – $1.10 for most businesses. The merchant category code used to classify a business plays a role in the amount of the FANF charged each month. The Fixed Acquirer Network Fee is a bit complicated because the amount of the fee varies depending on the following variables:
As an assessment fee, the FANF is non-negotiable and remitted to Visa. For example, the collection for the first quarter of 2012 will be in July 2012.
Processors calculate FANF monthly, but will charge you quarterly for the previous calendar period. For “card not present” businesses like e-commerce websites, the FANF will be based on gross Visa processing volume. The only question is how much of an effect it has.įor “card present” businesses like retailers, the amount of the Fixed Acquirer Network Fee will be based primarily on the number of locations a business has.
This monthly fee affects all business that take Visa cards.
It varies based on factors including processing method, sales volume, and number of business locations. Unlike some other assessment fees, the FANF is not a set cost. The fee went into effect in 2012, but has undergone several changes since then. Visa charges the Fixed Acquirer Network Fee, often abbreviated as FANF, for credit card acceptance. Visa’s Fixed Acquirer Network Fee (FANF), previously called the Network Participation Fee (NPF), is a monthly fee that affects all businesses to a varying degree.
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