Visa Inc. has announced its delaying the fees for credit card swipes until April 2021. The reason has to do with the coronavirus crisis. Also, Visa is cutting the interchange fees for in-store purchases at supermarkets in July. Let’s reveal more about the topic and find reliable and low cost high risk merchant accounts in the U.S.
High Risk Merchant Accounts U.S. & Visa’s New Plans
Visa has delayed almost all its interchange and fee changes planned for the U.S. The new date is April 2021. However, this doesn’t refer to cutting the interchange fees in supermarkets.
The reason why the payment giant has decided to postpone its plans has to do with the current situation caused by COVID-19. The thing is that the changes would increase the rates for some merchants, and they would have a difficult time coping with the rise in expenses. After all, the current financial crisis has brought its negative impact on sales.
What about your own business? How are you overcoming the current financial challenges? One thing is certain: working with a reliable payment specialist is critical to your success. So, get down to finding a true payment expert in your field that’s focused on providing secure and cheap merchant services, including high risk merchant accounts.
Thanks to a respectable credit card processing company, you can be sure to process online payment transactions securely. For this, work with a payment processor that guarantees the most advanced fraud prevention and chargeback mitigation solutions. Don’t forget that fraudsters are taking advantage of the massive switch to the online space.
Visa Delaying the Deadline for U.S. Convenience & Fuel Operators
Visa Inc. has also postponed the deadline for convenience and fuel operators. So, merchants now have more time to acquire new payment systems so to be able to process EMV chip and contactless payments. April 2021 is the new deadline.
Given the current economic situation, sales could still be slower as compared to the pre-pandemic rates in April 2021. So, the payment giant may again face a situation were it should enforce policies that could create difficulties for merchants but be beneficial for it.
As you see, Visa Inc. has announced a new deadline for its U.S. interchange and fee changes. April 2021 is the new date. However, this doesn’t refer to the planned interchange reductions in supermarkets. The company believes this decision will help them make sure the digital payments ecosystem has long-term stability.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country that provides the safest and cheapest high risk merchant accounts in the space. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.