Why are my Merchant Service Charge fees changing?
Following further card scheme announcements to change certain costs of processing some of the fees you pay are increasing. In addition, we are working to harmonise our pricing to ensure a more consistent structure across our customer base. Whilst we appreciate your current fee structure has not been in place for long, we need to respond to these industry wide changes.
Why is my authorisation fee changing?
In line with harmonising our pricing across our customer base your authorisation fees will be changing. It’s important to remember that authorisation doesn’t guarantee payment, but does check that the card has not been registered lost or stolen and that there are sufficient funds available in the cardholder’s account at the time of the transaction.
Why is a Monthly Terminal Rental fee being applied to my account?
We have identified that for a proportion of our customer base Terminal Rental fees had not been applied over recent months. To rectify this error new Terminal Rental fees will be applied per terminal and terminal type with effect from 1 September 2018.
Why are chargeback fees changing?
To create more consistency across our customer base, we have harmonised our chargeback fees. For more information on chargebacks and how you can help reduce your risk of fraud visit www.worldpay.com/uk/support.
Why are there changes to certain premium transactions?
To create more consistency across our customer base, we have harmonised our Premium Transaction fees. Premium Transaction fees are payable in addition to your base transaction charges. Premium Transactions attract a higher processing fee due to the higher risk associated with these types of transactions.
When will these changes take effect?
Your new fee structure will apply from 1 September 2018 and you will see these changes detailed in your September invoice, delivered the first week in October 2018.
How will this change affect me?
The extent of the change will depend on your individual transaction profile – i.e. the volume and average transaction value of the cards you process and the type of Worldpay terminal(s) you rent.
I pay additional charges for premium transactions, will these still apply?
Yes, where charges for premium transactions are in place these will still remain to reflect the fact that premium transactions typically have a higher risk associated with them.