2002-05-22 CC Packet - Laserfiche WebLink

Home Browse Search

ELAN'S PRICING PHILOSOPHY E1an's pr1clng philcoophy is to quallft each transaction forthe _ possible dlsoount _ based on 1I1e type of canl used (CIIldil. debit. commen:ial card products, etc.) and based on qualIfYing transacllons far the best Interchange feee available through MastefCard International and Visa U.SA ARU Capture Processing ARU plO\.eSS/ng allows a merdlant to utilize a spscialBOO number and a louch-lone telephone to both authorize and setlle bankcard transacllons. ARU processing provides betler pricing than paper processing. yet doesn' torce 1I1e merchant to purchase a terminal. The best pricing a merchant can obtain is via Bectronlc Draft Capture. Elan recommends that any merchant generating over $50,000 in bankcard volume should automatically ba quoted EOC processing. See the Elan Operations Manual far ARU processing procedures. Note: Once a merchant bagins processing via ARU Capture, they must not bring paper drafts to the bank for deposit or dupncate processing win occur. . Electronic Draft Capture (EDC) ElecIronic Draft Capture refers to transacllons that are electronically authorized (zero floor) and deposited. Transacllons are processed through a terminal. eleclronlc cash register (ECR), or personal computer. -'''''',-. Indicated below are the dltrerent categories of pricing available to merchants and the requirements for each category. MasterCard Merit 3 or Visa Custom Payment Services Retail (CPS) Best possible credit card rates available. . Transaction must be elecIronlcafty au1l1oriz8d; only one author1zation allowed and must match settled amount For restaurants, actual amount sellled must be within 20%(+/-) of amount authorized. . Card present- entire contents of magnetic stripe must ba electronically reed and transmitted and signature obtained. . Enriched transacllon data In authorization and setllement record. . Transacllon deposited eleclronically same day as purchase date. . Merchant Category Code (MCC) used in authorization and setllement must match. MasterCard Keyed or Visa Keyed rate Same requirements as Retail Meril3 or CPS Retan, however. the card account number Is key entered due to a faulty magnetic stripe or equipment Cardholder Is present Card Imprint required. Travel agents, airlines. vehicle rental, hoteJlmotel, transportation and SSlVIce merchants are not eIigibJe. To qualJfy for the Visa Keyed rate, an address verification (AVS) request must be made and a match must be obtained, otherwise 1I1e transacllon will downgrade to EIRF. MasterCard Merit 1 or Visa EIRF . Transacllon must be electronically authorized. . Salected data ftelds In authorizetion and setllement records. . Transaction deposited electronically no later than one day after purch.... dele. MasterCard Standard or Visa Standard . Transaction not au1l1oriz8d eleclronicafty. . Transacllon daposIted Iwo days or more after purchase date. . AuthorizatIon response data not Included In setllement record. MasterCard World Card MaSleJCard issuers are beginning to Introduce a new premium card caRed the World Calli. Unique pricing applies as World Cam are used at hotels, restaurants, alrtines, travel agents and vehicle rentals. MasterCard Travel Premier Some large national merchant chains, i.e.. HoIidey Inn, Hertz, provide a Premier Club for their frequent custom..... MasterCard Trawl Premler rate applies far these canlholders. Visa CheckCard (no comparable MasterCard rate) VIsa U.S.A. has established unique pricing for Visa CheckCards (debit to a checking aocaunt not a fine of CIIlda) provided thallhe requirements of CPS ReIaiJ are met Authorization must match settled amount These transactions will be Identifted as "VIsa Chk" on 1I1e monthly merchant statement MasterCard has no equivalent rate. 1 419102