Fixed Acquirer Network Fee (FANF)

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Fixed Acquirer Network Fee (FANF)

Today we are going to  learn about one of the Card Association Fees, known as the FANF.

 

On April 1, 2012, Visa® began a new Fixed Acquirer Network Fee (“FANF”) assessed to acquirers on a merchant Taxpayer ID basis. The FANF fee applies to all businesses that accept Visa® credit and debit cards, regardless of who their merchant services provider is.

 

This means that all Acquirers, are assessed these fees.  The MSP Network Fee will also apply to all Visa® transactions.

 

Separate FANF charges are imposed on (i) merchants processing transactions where a

cardholder is physically present (“CP Merchants”), with the exception of merchants primarily

operating as Fast Food Restaurants and (ii) merchants processing transactions where a

cardholder is not physically present (“CNP Merchants”), which shall include merchants acting as

merchant aggregators for other merchants, or merchants primarily operating as Fast Food

Restaurants (MCC 5814). If a merchant falls into both categories described above, the merchant

will be charged the FANF charge and the MSP Network Fee as both a CP Merchant and a CNP

Merchant. The MSP Network Fee will be charged to all CP Merchants and CNP Merchants

regardless of the type of merchant.

 

For CP Merchants with less than 50% of their monthly Card Present sales volume from the High

Volume Merchant Category Codes (“High Volume MCCs”), FANF charges are assessed on a per

location basis, with fees ranging from $4.50 ($2.00 FANF + $2.50 MSP Network Fee) per

location per month for CP Merchants with one to three locations to over $26.50 per location

per month for CP Merchants with more than 250 locations.

 

For CP Merchants with at least 50% of their monthly Card Present sales volume from the High

Volume MCC, the FANF charges are assessed on a per location basis, with fees ranging from

$5.40 ($2.90 FANF + $2.50 MSP Network Fee) per month for CP Merchants with one to three

locations to over $7.50 ($5.00 FANF + $2.50 MSP Network Fee) per location per month for CP

Merchants with more than 20 locations.

 

For CP Merchants, FANF charges and the MSP Network Fee appear on statements as FANF CP

and MSP Network Fee.

 

Contact Merchant Zoom today and we’ll consult with you on your best options.

 

Headquartered in Pinole California, MerchantZoom, Inc. was founded by Wally Arakozie. Previously employed by one of the largest merchant processing companies here in California for nearly a decade. Since the company’s beginnings MerchantZoom, has grown into a reputable national merchant provider.  Along with delivering state of the art technology and competitive rates, MerchantZoom, thrives on personalized local customer service and support. In order for your business to ZOOM!

 

Address

759 Appian Way Ste 1A Pinole, CA 94564

E-Mail Us

Info@mchzoom.com

Contact Us

1-844-624-9666

Website

www.mchzoom.com

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https://www.facebook.com/mchzoom

LinkedIn https://www.linkedin.com/in/mchzoom

Twitter https://twitter.com/mchzoom

 

Content Release Date April 10, 2017 – MerchantZoom Inc.

Press Release by 72 Charms LLC, content is the responsibility of MerchantZoom, 72 Charms simply does it’s work for hire, contact us if you need to promote your business, otherwise, contact, MerchantZoom at http://mchzoom.com to take care of your processing needs.    If you need social media content management or WordPress design reach out us at www.72charms.com

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