Tips and Trends

PrimeSys consultants are constantly reviewing new tips, trick,s and trends in the payment card and ERP integration industries. We are proud to share some of our observations. For more information or learn how PrimeSys can help put this knowledge to work for you, please contact our sales department.

Did You Know?

• May 11, 2009.  As of July 2009, Visa requires all authorizations obtained to be settled within 10 days, otherwise a $.045 penalty is assessed per unsettled transaction.
• May 4, 2009.  The most common payment card downgrade is for untimely settling of authorizations.  Generally, the Interchange Rate increases to Non-Qualified if the transaction is not settled within 24 hours.
• April 27, 2009.  Visa now requires Address Verification Service support for merchants to avoid Non-Qualified Interchange Rates
• April 20, 2009.  The difference between Qualified and Non-Qualified Interchange Rates can generally range from .5% to 2%
• April 13, 2009.  PCI DSS requires an Audit Log to be kept for every instance a PAN (credit card  number) is viewed  in decrypted fashion by an employee, regardless of software used or system of record type
• April 6, 2009.  Most gateway processors charge a per transaction fee (usually $.05 to $.10) in addition to Interchange Rates