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!
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Content Release Date April 10, 2017 – MerchantZoom Inc.
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