I am wondering how is everyone dealing with Visa's New Policy about he $750 Greed money ?

and as for those who are using free processing, how are you dealing with it? and are you affected?

can you prove its a visa policy?

Originally posted by AlaskanWolf
can you prove its a visa policy?


Yeah, I've heard from several merchant people that they never heard of such a Visa policy..

Dunno if its true or not, but there has been alot of speculation about it..

I am just wondering if Visa is just out for the big buck? seeing that they already have 65% of all the transactions.

or that they are getting into trouble. and want to cover their buts?

I am just wondering if Visa is just out for the big buck? seeing that they already have 65% of all the transactions.

or that they are getting into trouble. and want to cover their buts?

I own an e-commerce business and am a merchant of Visa, Mastercard and American Express. We haven't been notified of any 'policy' about $750 fees... can you elaborate or give any verification, a URL to their site maybe?

Just wondering. I know that there are 3 services out there who are going to charge the customer $750.00 to process Visa cards online. it might be just for free services.

but I have seen some posts in here that hace mentioned about the fee. from what I can see now. it looks like just the free providers that are trying to make out.

It *IS* a VISA policy, I posted a link to an article on theregister.co.uk regarding this on another post, but register mentions that it applies only to people selling adult content or anything related to that.

Originally posted by Varun Shoor
It *IS* a VISA policy, I posted a link to an article on theregister.co.uk regarding this on another post, but register mentions that it applies only to people selling adult content or anything related to that.

Well this rule generally only applies to 3rd party merchants offering their services to adult sites.
I doubt VISA would be so stupid to charge all their merchants $750 for processing VISA cards. They wouldn't bite the hand that feeds them.

Yes that is correct, it only applies to third party merchants and not direct merchants.

Since we have our own merchant account, we're dealing with it just fine (as in, we aren't paying it).

I have not heard any buzz at all, I think if there was going to be a large impact the boards woud have been flooded and that has not been the case.

Because you didnt know about this, thats the very reason boards havent been flooded yet. The policy is at start being implemented by CCBill, iBill etc and will later move onto other 3rd party merchant providers including 2checkout and others (Although they say they are trying their best to make sure this doesnt have any impact).

Originally posted by hawkster
Just wondering. I know that there are 3 services out there who are going to charge the customer $750.00 to process Visa cards online. it might be just for free services.

but I have seen some posts in here that hace mentioned about the fee. from what I can see now. it looks like just the free providers that are trying to make out.

Do you happen to know which 3 services are going to start charging this fee?

Zak

CCBill
iBill
and there was another I think charge.com? Search the forum, there is a huge post on this

The answer is simple: GET YOUR OWN MERCHANT ACCOUNT.

Not a good answer.

What about people like me who live in India? You know how much a merchant a/c costs here? More than $1200 and most of them dont have internet gateways accept certain selected ones and the ones that do, have one of the most bloated application process you would ever come across.

Can someone please get an answer from 2checkout.com regarding how this will effect their customers specifically?

I am very happy with them, but will have to get my own merchant account if they change their policies.