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Showing posts from July, 2020

UPDATE July 20 2020!!! CARD BRANDS DELAY MOST INTERCHANGE RATE CHANGES UNTIL APRIL 2021

UPDATE TO BELOW ARTICLE (July 20, 2020)Some processors or their banks have released the new interchange rates effective July 17, 2020.  However, Visa and MasterCard have not yet done so.  I am actively looking into this issue to find out what is going on. 
------------------------------------------------------------------------------------------- There is much confusion out there on the web as to when the Interchange fees will increase or decrease.  Initially many reports circulated in March 2020 that the traditional rate increases for April 2020 were postponed until July 2020.  Many  believe this to be the case. 
However, there was a Visa blog post later in the year (May 2020) as well as other circulated reports that the Card Brands have postponed the changes until April 2021 due to Covid-19. 
The only item that is being affected for July is the Supermarket rate reductions which will benefit those businesses during the pandemic. 

Here are several links including one from Visa's own si…