DOCSLIB.ORG

Merchant Choice Routing

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Merchant Choice Routing Merchant Choice Routing Giving you more choice and flexibility. Merchant Choice Routing (MCR) is a new optional feature which you can enable on CommBank Essential Lite and Essential Plus terminals to select which network to use when processing contactless transactions made with Mastercard and Visa debit cards. Benefits for your business Potential cost savings : Depending on your card and transaction mix, enabling MCR may offer you cost savings. Choice and flexibility : You can choose if or when you would like to enable MCR, and you have the flexibility to set the options that suit your business. Control : You can change your MCR options at any time, adjusting your settings to get better cost savings, depending on your pricing plan. Who can use MCR? MCR is available to CommBank merchants with an Interchange Plus pricing plan and an Essential Lite or Essential Plus device. MCR does not apply to you if you have a Simple Merchant Plan, since you already pay a fixed monthly fee for your terminal and included card transactions, regardless of network and card type. Deciding if MCR is right for you Every business is different, and the potential for savings from MCR will depend on your transaction volumes, card mix and turnover. So only you can decide if MCR is right for your business and which MCR option is best suited to you. Here are some questions to consider when you decide: • What are you paying in fees right now? If you are charged interchange fees, your last CommBank merchant statement has a detailed breakdown of the fees you’ve paid. • What are the fees for processing debit transactions with different networks? For more information about your CommBank Merchant Service Fees, review your pricing plan. For more information about scheme interchange fees, visit the scheme websites: Visa www.visa.com.au/about-visa/interchange.html Mastercard www.mastercard.com.au/en-au/about-mastercard/what-we-do/interchange.html • What is your typical mix of transaction types? © Commonwealth Bank, 2019 Page 1 How it works Without MCR, all contactless transactions are automatically processed through the Visa and Mastercard networks, depending on card type. When you enable MCR you can select your own network routing options when processing dual network debit contactless transactions. The Commonwealth bank MCR solution provides 3 options for Merchants to choose from, these include: Option 1: (Scheme only) • All contactless Visa debit card transactions processed by Visa. • All contactless Mastercard debit card transactions processed by Mastercard. Option 2: (eftpos only) • All contactless Visa debit card transactions processed by eftpos. • All contactless Mastercard debit card transactions processed by eftpos. Option 3: (Route transactions by value) This option provides the flexibility to set a transaction threshold limit, which means that transactions up to and including your set threshold limit will be processed via your chosen primary network (either Visa/Mastercard or eftpos) and transactions above your set threshold limit will be processed via your chosen secondary network (either Visa/Mastercard or eftpos). A Route all transactions to Mastercard OR B Route all transactions to epos OR < C Set Transaction Threshold for Debit Mastercard cards > A Route all transactions to Visa OR B Route all transactions to epos OR < C Set Transaction Threshold for Visa Debit cards > You can also choose different options, including different thresholds, for Visa and Mastercard. How to enable MCR on your terminal 1. Review your pricing plan and recent transactions to ensure that MCR is right for you. If not available, use your previous monthly statements to understand your business activity. 2. Review which MCR option is right for your business. 3. Contact the merchant support team on 1800 230 177 at any time to enable MCR. We’re here to help If you need help understanding your current pricing plan or would like more information on Merchant Choice Routing please contact us: 1800 230 177 www.commbank.com.au/mcr Things you should know: Merchant Choice Routing is only available on Essential Lite and Essential Plus terminals, it is not available on Albert, Emmy, Leo, IWL255, EFTPOS 5110, EFTPOS 7910 or EFTPOS Health terminals. The Bank charges the actual wholesale interchange fee for every purchase transaction. The wholesale interchange fee is set and monitored by the relevant scheme and is subject to change from time to time as the schemes see fit. This fee can appear as a percentage and/or per item based fee. This information has been prepared without taking into account your individual and business objectives or needs You should read and consider the Merchant Agreement (hyperlink to including relevant Merchant Choice Routing terms and conditions, which govern the use and operation of your merchant facility before making a decision. Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 © Commonwealth Bank, 2019 Page 2.
Load more

Recommended publications
  • Eftpos Payments Australia Limited ABN 37 136 180 366
    eftpos Payments Australia Limited ABN 37 136 180 366 Parliamentary Joint Committee on Corporations and Financial Services: Inquiry into Mobile Payment and Digital Wallet Financial Services. PO Box 6100 Parliament House Canberra ACT 2600 [Via email: [email protected]] Dear Committee Members, Thank you for the opportunity to provide a further submission to this important inquiry. eftpos is a mutual style corporation that is not motivated by profit and promotes choice and competition in the Australian market. As the only Australian-owned separately designated payments system, eftpos is an essential part of the national payments infrastructure and is committed to providing efficient, safe, cost-effective and market- specific payments solutions for the benefit of all Australians. The Company’s Purpose is simple – to do good for Australia. To that end, eftpos believes it can greatly assist the Australian finance sector and broader economy to thrive and grow by providing low cost access to our network and payments capability over our national, real time processing infrastructure. Further, low cost access, mobile payments capability, our ability to issue tokens, and the work we are doing with industry around real time digital payments and a ubiquitous Digital Identity solution, have the potential to bring many FinTech solutions to life in the current environment, particularly through mobile payments. eftpos has invested deeply in the mobile ecosystem, having purchased Beem It, the Australian payments App that enables consumers to send and receive money using their phone in seconds, in November 2020 to help diversify the eftpos Group business and move further into the digital ecosystem.
    [Show full text]
  • VX690 User Manual
    Sivu 1(36) 28.9.2016 VX690 User Manual English Author: Verifone Finland Oy Date: 28.9.2016 Pages: 20 Sivu 2(36) 28.9.2016 INDEX: 1. BEFORE USE ............................................................................................................................... 5 1.1 Important ......................................................................................................................................... 5 1.2 Terminal Structure ......................................................................................................................... 6 1.3 Terminal start-up and shutdown .................................................................................................. 6 1.4 Technical data ................................................................................................................................ 7 1.5 Connecting cables ......................................................................................................................... 7 1.6 SIM-card.......................................................................................................................................... 8 1.7 Touchscreen ................................................................................................................................... 8 1.8 Using the menus ............................................................................................................................ 9 1.9 Letters and special characters....................................................................................................
    [Show full text]
  • Public Bank Unionpay Lifestyle Debit Card Product Disclosure Sheet
    PRODUCT DISCLOSURE SHEET Public Bank Berhad (6463-H) Read this Product Disclosure Sheet before you PB Visa/MasterCard Lifestyle Debit – Generic decide to take up the PB Visa/MasterCard/Union Pay Lifestyle Debit. Be sure to also read the PB Visa/MasterCard Lifestyle Debit – Basic general terms and conditions. Savings Account/Basic Current Account PB UnionPay Lifestyle Debit – PB UnionPay Savings Account Date: 1. What is this product about? PB Visa/MasterCard/UnionPay Lifestyle Debit is a two-in-one card combining Visa/MasterCard/ UnionPay debit card and ATM functions. The card is linked to the Savings Account/Current Account/Basic Savings Account/Basic Current Account/PB UnionPay Savings Account (“Banking Account”) of the individual and any expenditure will be deducted directly from the Banking Account. This is a PB Visa/MasterCard/UnionPay Lifestyle Debit, a payment instrument which allows you to pay via a direct deduction of the cost for goods and services from your Banking Account at participating retail and service outlets. You are required to maintain a Banking Account with us, to be linked to your PB Visa/MasterCard/UnionPay Lifestyle Debit. If you close your Banking Account maintained with us, your PB Visa/MasterCard/UnionPay Lifestyle Debit will be automatically cancelled. 2. What are the fees and charges I have to pay? (i) Annual Fee x Generic/PB UnionPay Savings Account: RM8.00 x Basic Savings Account/Basic Current Account: Waived (subject to eight (8) ATM cash withdrawals and six (6) over-the-counter withdrawals per month*) *Note: Fee for exceeding the threshold will be RM1.00 per transaction.
    [Show full text]
  • Consumer Credit Cards: Product Guide Choose the Card That’S Right for You
    Consumer Credit Cards: Product Guide Choose The Card That’s Right For You. I’M INTERESTED IN: Earn 5% Cash Back In Two Categories You Choose 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose1, such as: ® • TV, Internet & Streaming Services Choose where Visa Max Redeem you earn the • Home Utilities Cash Preferred • Cash Back2 most cash back Card • Cell Phone Providers EARNING 2% unlimited cash back on one everyday category of your choice: VALUABLE • Gas Stations & Ground Transportation REWARD • Restaurants & Food Delivery • Grocery Stores & Grocery Delivery 1% unlimited cash back on all other eligible purchases Earn Redeem Earn rewards Visa® Real • Merchandise on everyday Rewards – With No Limits • Gift Cards purchases Rewards Card 1.5X • 1.5X Points per $1 spent on eligible purchases3 • Travel • Cash Back Save interest ® Transfer Balances PAYING DOWN on balance Visa Low Intro Rate • BALANCES transfers Platinum Card • For an extended time From other higher rate and purchases credit cards Redeem ® Easy to manage Visa College 1.5X Unlimited Rewards • Merchandise card for college Real Rewards • 1.5X Points per $1 spent on eligible purchases3 • Gift Cards students Card • Account Alerts, Online and Mobile Account Access, • Travel BUILDING OR Autopay, Free Credit Score4 • Cash Back REBUILDING 5 CREDIT Access to credit Enjoy while helping ® • Online Account Access Visa The Convenience Of A Credit Card you build • Account Alerts Secured Card • While working to build or improve your credit a positive • Automatic Bill Pay credit history • Free Credit Score4 PGC764 VA 12/2020 Charts represent example spend/earn.
    [Show full text]
  • Online User Guide
    Online User Guide Terms and conditions and fees apply to the use of your card. Minimum and maximum transfer amounts may apply. Refer to the PDS. Gobsmacked Loyalty Pty Ltd ABN 60 098 218 216 (AFSL 444609) is the issuer of the card. The PDS is available on the above link. You should consider the PDS in deciding whether or not to acquire or keep the card. Moorebank Sports Club Limited is responsible for the Infinity Plus Rewards program and promotions and the conversion of reward points to monetary value. Refer to the Moorebank Sports Club Limited reward promotions and program terms and conditions. Infinity Plus Prepaid eftpos Card So you’ve got your new Moorebank Sports Club Infinity Plus Prepaid eftpos Card. Now what do you do? This User Guide will explain how to start using your Infinity Plus Card for everyday purchases. If you have any enquiries at all whilst you are a Infinity Plus cardholder please visit Moorebank Sports Club and we will help you. Please refer to the Product Disclosure Statement (PDS) for the terms and conditions governing the use of the Infinity Plus Card. A copy of the PDS is also available online at www.moorebanksports.com.au Table of Contents WHAT IS THE INFINITY PLUS PREPAID eftpos CARD? GETTING STARTED Activate my Infinity Plus Card At the Club At home USING MY INFINITY PLUS CARD Card Loads How do I transfer my rewards onto my Infinity Plus Card? How do I load my card with extra funds so I can spend more? Making Purchases Where can I use my Infinity Plus Card? INFINITY PLUS CARDHOLDER ACCOUNT PAGE Features PIN
    [Show full text]
  • New Debit Card Solutions At
    New Debit Card Solutions Debit Mastercard and Visa Debit are ready Swiss Banking Services Forum, 22 May 2019 Philippe Eschenmoser, Head Cards & A2A, Swisskey Ltd Maestro/V PAY Have Established Themselves As the “Key to the Account” – Schemes, However, Are Forcing Market Entry For Successor Products Response from the Maestro and V PAY are successful… …but are not future-capable products schemes # cards Maestro V PAY on Lower earnings potential millions8 for issuers as an alternative payment traffic products (e.g. 6 credit cards, TWINT) Issuer 4 V PAY will be 2 decommissioned by VISA Functional limitations: in 20211 – Visa Debit as 0 • No e-commerce the successor 2000 2018 • No preauthorizations Security and stability have End- • No virtualization proven themselves customer High acceptance in CH and Merchants with an online MasterCard is positioning abroad in Europe offer are demanding an DMC in the medium term online-capable debit as the successor to Standard product with an Merchan product Maestro integrated bank card t 2 1: As of 2021 no new V PAY may be issued TWINT (Still) No Substitute For Debit Cards – Credit Cards With Divergent Market Perception TWINT (still) not alternative for debit Credit cards a no alternative for debit Lacking a bank card Debit function Limited target group (age, ~1.1 M 1 ~10 M. creditworthiness...) Issuer ~48.5 k ~170 k1 No direct account debiting DMC/ Visa Debit Potentially high annual fee End-customer Lower customer penetration Banks and merchants DMC/ P2P demand an online- Higher costs Merchant Visa Debit
    [Show full text]
  • AUTOMATED TELLER MACHINE (Athl) NETWORK EVOLUTION in AMERICAN RETAIL BANKING: WHAT DRIVES IT?
    AUTOMATED TELLER MACHINE (AThl) NETWORK EVOLUTION IN AMERICAN RETAIL BANKING: WHAT DRIVES IT? Robert J. Kauffiiian Leollard N.Stern School of Busivless New 'r'osk Universit,y Re\\. %sk, Net.\' York 10003 Mary Beth Tlieisen J,eorr;~rd n'. Stcr~iSchool of B~~sincss New \'orl; University New York, NY 10006 C'e~~terfor Rcseai.clt 011 Irlfor~i~ntion Systclns lnfoornlation Systen~sI)epar%ment 1,eojrarcl K.Stelm Sclrool of' Busir~ess New York ITuiversity Working Paper Series STERN IS-91-2 Center for Digital Economy Research Stem School of Business Working Paper IS-91-02 Center for Digital Economy Research Stem School of Business IVorking Paper IS-91-02 AUTOMATED TELLER MACHINE (ATM) NETWORK EVOLUTION IN AMERICAN RETAIL BANKING: WHAT DRIVES IT? ABSTRACT The organization of automated teller machine (ATM) and electronic banking services in the United States has undergone significant structural changes in the past two or three years that raise questions about the long term prospects for the retail banking industry, the nature of network competition, ATM service pricing, and what role ATMs will play in the development of an interstate banking system. In this paper we investigate ways that banks use ATM services and membership in ATM networks as strategic marketing tools. We also examine how the changes in the size, number, and ownership of ATM networks (from banks or groups of banks to independent operators) have impacted the structure of ATM deployment in the retail banking industry. Finally, we consider how movement toward market saturation is changing how the public values electronic banking services, and what this means for bankers.
    [Show full text]
  • Schedule of Fees and Charges
    Welcome to Bank of the West! Please keep these important documents with your Deposit Account Disclosure and Safe Deposit Box Rental Agreement Terms and Conditions for Business Accounts booklet and retain them for future reference. Schedule of Fees and Charges for Business Deposit Accounts Page 1-2 Business Checking Accounts Page 3-4 Business Savings, Money Market and Certificate of Deposit Accounts Page 5 Form # 030-08635 (Rev. 12/01/20) AZ,CA,CO,IA,KS,MO,ND,NE,OK,SD,UT,WI,WY © 2020 Bank of the West. Member FDIC Schedule of Fees and Charges for Business Deposit Accounts (Arizona, California, Colorado, Iowa, Kansas, Missouri, Nebraska, North Dakota, Oklahoma, South Dakota*, Utah, Wisconsin, Wyoming Branches) Effective December 1, 2020 This Schedule of Fees and Charges (“Schedule”) applies to business Accounts opened in the states referenced above. This Schedule, along with the Deposit Account Disclosure and Safe Deposit Box Rental Agreement Terms and Conditions for Business Accounts, current rate sheet, your current signature card, and any other addenda that may be provided to you at Account opening or from time to time thereafter form the Agreement between you and Bank of the West (“Bank”) as to your checking, money market, savings, certificates of deposit, and retirement Accounts (collectively, the “Agreement”). The Bank reserves the right to add to, delete from, discontinue, or otherwise amend any product, service, fee or charge, package or program offering at any time with such notice as is required by law. To the extent that any of the terms or provisions of this Schedule of Fees and Charges conflict with those contained in any other document in the Agreement, the terms and provisions contained herein shall control.
    [Show full text]
  • Credit Cards American Express Company 24-Hour Number: (800) 528-2121 (U.S
    Credit Cards American Express Company 24-Hour Number: (800) 528-2121 (U.S. and Canada) American Express Cards include: Personal Green (pictured), Gold, Platinum, Corporate Green (pic - tured), Corporate Gold, Corporate Platinum, Corpo - rate Optima, Optima, Optima Gold, Purchasing Card, American Express Blue (pictured), Green and Gold Rewards, and more. American Express also issues co-branded cards, including Hilton, Delta SkyMiles (pictured), ITT Sheraton Club Miles, and more. American Express issues multiple styles of prepaid cards. Gift Cards (4 are pictured) can be variable load or pre-denominated ranging from $25 to $3,000. Gift Cards are not reloadable and can be personalized or issued anonymously. Reloadable prepaid cards are also available in various styles and offer different functionality. Serve and Bluebird prepaid cards are multifunction cards with many new features such as bill pay, check writing, and funds transfer. All prepaid cards have the word “PREPAID” printed on either the front or back of the card. Account numbers are 15 digits, begin with 37 or 34, and are sequenced 4-6-5. UV light reveals large “AMEX” and phosphorescence on the face of each card, excluding the Gift Card. The Centurion or the American Express Blue Box appears on most Amer - ican Express cards. To establish the validity of a card, or determine its status, please call (866) 375-3684. 98 Credit Cards Diners Club International ® 2500 Lake Cook Rd. Riverwoods, IL 60015 Security Contacts: Law Enforcement Phone Line: 1-800-347-3083 for law enforcement officers Merchant Code 10 Authorization: 1-800-347-1111 for suspicious transactions Diners Club ® account numbers start with 36 or 55.
    [Show full text]
  • Moving Forward. Driving Results. Euronet Worldwide Annual Report 2004 Report Annual Worldwide Euronet
    MOVING FORWARD. DRIVING RESULTS. EURONET WORLDWIDE ANNUAL REPORT 2004 REPORT ANNUAL WORLDWIDE EURONET EURONET WORLDWIDE ANNUAL REPORT 2004 The Transaction Highway At Euronet Worldwide, Inc. secure electronic financial transactions are the driving force of our business. Our mission is to bring electronic payment convenience to millions who have not had it before. Every day, our operations centers in six countries connect consumers, banks, retailers and mobile operators around the world, and we process millions of transactions a day over this transaction highway. We are the world's largest processor of prepaid transactions, supporting more than 175,000 point-of-sale (POS) terminals at small and major retailers around the world. We operate the largest pan-European automated teller machine (ATM) network across 14 countries and the largest shared ATM network in India. Our comprehensive software powers not only our own international processing centers, but it also supports more than 46 million transactions per month for integrated ATM, POS, telephone, Internet and mobile banking solutions for our customers in more than 60 countries. Glossary ATM – Automated Teller Machine EMEA - Europe, Middle East and Africa An unattended electronic machine in a public Euronet has an EMEA regional business unit in place that dispenses cash and bank account the EFT Processing Segment. information when a personal coded card is EPS - Earnings per Share used. A company's profit divided by each fully-diluted Contents EBITDA - Earnings before interest, taxes, share of common stock. depreciation and amortization 3...Letter to Our Shareholders E-top-up – Electronic top up EBITDA is the result of operating profit plus The ability to add airtime to a prepaid mobile 5...2004 Company Highlights depreciation and amortization.
    [Show full text]
  • Unionpay: Visa and Mastercard's Tough Chinese Rival
    1.35% AXP American Express Co $66.0 USD 0.87 1.32% Market data is delayed at least 15 minutes. Company Lookup Ticker Symbol or Company Go Among the myriad designer brands at the Harrods flagship store in London, Chinese housewife Li Yafang spotted a corporate logo she knows from back home: the red, blue, and green of UnionPay cards. “It’s very convenient,” said Li, 39, as a salesperson rang up a £1,190 ($1,920) Prada Saffiano Lux handbag. With 2.9 billion cards in circulation—equal to 45 percent of the world’s total last year—UnionPay has grown into a payments processing colossus just 10 years after the company was founded. Now accepted in 135 countries, its share of global credit- and debit-card transaction volume for the first half of 2012 rose to 23.8 percent, propelling it to No. 2 behind Visa International (V), according to the Nilson Report, an industry newsletter. “UnionPay has absolute dominance in China, and it’s now expanding beyond that to become a top global player,” says James Friedman, an analyst at Susquehanna International Group. “Their numbers show they are already in the league of Visa and MasterCard (MA).” Yin Lian, UnionPay’s name in Mandarin, means “banks united,” which reflects its ownership structure. Its founding shareholders were 85 Chinese banks, led by the five biggest state-owned lenders. UnionPay’s top managers are former senior officials at the People’s Bank of China, the nation’s central bank. (The company would not make executives available for interviews.) At home, the Shanghai-based firm enjoys a big competitive edge: The government requires that all automated teller machines and Chinese merchants use UnionPay’s electronic payments network to process payments in the local currency.
    [Show full text]
  • Frequently Asked Questions
    FREQUENTLY ASKED QUESTIONS SM How do I activate my Insight Visa® How do I use my Insight Card to pay We recommend that you consider paying inside Prepaid Card? bills? with the attendant for the exact amount and Call 1.888.572.8472 to activate your Insight Card Insight Online Bill Pay is a fast, easy, and signing the receipt instead. and set your PIN. secure way to make payments online. Use it at no charge to pay your rent, utilities, and other Is my Insight Card safe to use on the Where can I use my Insight Card? monthly bills. Internet? Your Insight Card can be used everywhere Visa • Pay virtually anyone online Yes, the purchases you make online using Debit cards are accepted to make purchases • Schedule single, recurring, or future-dated your Insight Card are as safe as any other Visa in-store, online, or by phone. Use your Card to payments Prepaid Card. withdraw cash and check your balance at any • Make changes to scheduled payments ATM worldwide displaying the Visa®, Plus® or before they are sent What should I do if my Card is lost or Maestro® logo. • Track your payment status and history stolen? If you believe that your Insight Card has How much money can I load on my What happens to my direct deposit if been lost or stolen, call us immediately at Card? I change jobs? 1.888.572.8472. You will have the option of The maximum amount of cash loads is $5,000 If you change jobs, the deposits from your obtaining a replacement card and your available per day.
    [Show full text]