Discover Card is increasing their fees effective October 15th. Fortunately the majority of you do not see many Discover cards so this will have little impact on your business. This increase is across the board for all merchants. Shown below is what you will see on you're August statement outlining the details of the increase. This increase is for Discover cards only.
“DISCOVER HAS ANNOUNCED THAT EFFECTIVE OCTOBER 15, 2010, THERE WILL BE AN INCREASE IN DUES AND ASSESSMENTS FROM 0.0925% TO 0.10%. IF YOU ARE ASSESSED DUES AND ASSESSMENT FEES TODAY, THIS INCREASE WILL BE APPLIED TO YOUR ACCOUNT EFFECTIVE WITH YOUR NOVEMBER 2010 STATEMENT. IF YOU ARE NOT ASSESSED DUES AND ASSESSMENTS TODAY, EFFECTIVE NOVEMBER 1, 2010, YOU WILL BE CHARGED A DUES AND ASSESSMENT FEE WHICH SHALL BE CALCULATED AS FOLLOWS: 0.110%(MASTERCARD), 0.110%(VISA) AND0.10% (DISCOVER) MULTIPLIED BY YOUR GROSS SALES VOLUME.
EFFECTIVE OCTOBER 1, 2010, FOR DISCOVER FULL ACQUIRING, THERE WILL BE AN INCREASE IN THE INTERNATIONAL PROCESSING FEE BY 0.10% FROM 0.30% TO 0.40%. THIS FEE IS CHARGED FOR CARD SALES (INCLUDING CASH OVER AND CASH ADVANCES) WHEN THE COUNTRY OF WHERE THE MERCHANT IS LOCATED IS DIFFERENT THAN THE COUNTRY OF THE ISSUER.
EFFECTIVE OCTOBER 1, 2010, FOR DISCOVER FULL ACQUIRING, AN INTERNATIONAL SERVICE FEE OF 0.55% WILL BE PASSED THROUGH TO YOU. THIS FEE IS CHARGED FOR CARD SALES (EXCLUDING CASH OVER) CONDUCTED AT A MERCHANT LOCATED IN THE US WHERE THE ISSUER IS NOT LOCATED IN THE US.
EFFECTIVE OCTOBER 1, 2010, FOR DISCOVER FULL ACQUIRING, A DATA USAGE CHARGE OF 0.0185% PER DISCOVER FULL ACQUIRING SALE WILL BE PASSED THROUGH TO YOU.
CONTINUING YOUR MERCHANT ACCOUNT WITH US OR USE OF YOUR MERCHANT ACCOUNT AFTER 30 DAYS WILL REPRESENT YOUR ACCEPTANCE TO THESE TERMS.
