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E-Merchant / Visa Rates Go Up!

edited Nov 28, 2019 10:58AM in Accounting / ERP 7 comments

I found while reviewing my last merchant statement that all over my commercial visa cards were just downgrade from Level II processing, thereby increasing my merchant rates! After talking with VeriSign I was told this was caused by Visa when they changed their policy. Basically they are requiring a tax amount to be filed with all commercial cards. I was told to talk to my shopping cart vendor to have this added (ie NetSuite.) Over 50% of my transactions are on a commercial card and this increase in rates is cutting into my margin!

So far NetSuite has looked into this but feel they can’t do anything.  Has anyone else seen an increase in Merchant Rates?  Who is a good Merchant to use and who has the best rates?

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