National ACH Vender November 13, 2023
Due to an issue at a national ACH vendor, several month-end ACH files transmitted by back-end processors on November 1st were not processed correctly. In handling the files, the ACH vendor inadvertently obscured/scrambled account and recipient information prior to sending the files to the receiving banks. As a result, these files were not processed correctly and several of our merchants were debited incorrectly or not debited for their monthly fees. Our sponsor banks have been diligently working to identify the full impact on our merchants and make the needed corrections. We apologize for any inconvenience. We expect the issue to be resolved by the end of this week. Please reach out with any questions.
Update November 14, 2023
We sincerely apologize for any inconvenience you may have experienced due to recent billing discrepancies. Our sponsor bank has rectified the erroneous transactions, and we have initiated a reversal to correct any incorrect debits. Additionally, a file with the accurate charges is prepared and will be processed for your monthly statement fees later this week. We appreciated your patience and understanding as we resolve this matter and ensure the accuracy of your account.
Update November 15, 2023
We have been informed by our sponsor bank that all reversals have been completed and funds have been returned to our merchants bank account. The corrected file to process month end fees will be going out later on this week. Please reach out to us if you have any additional questions.
Merchant Cyber Liability Program
With the ever-increasing threat of data breaches, Nexio is pleased to inform you that the Merchant Cyber Liability Program is now automatically part of the (MSP) agreement. With a cyberattack occurring every 39 seconds, and the average breach exceeding more than $75,000 in expense to the average small business, this policy will provide financial protection in the instance of a data breach. Details can be found below.
The Merchant Breach Protection Program protects each merchant up to $100,000 per MID and $500,000 per merchant.
The Program protects merchants for the cost of an actual or suspected violation of a privacy regulation due to a covered security breach that results in the unauthorized release of payment card information in the merchants care, custody or control.
The Merchant Cyber Liability Program:
- Includes PCI DSS level 2, 3 and 4 merchant accounts, regardless of whether the merchant accounts were thought to be PCI DSS compliant at the time of the breach.
- A forensic audit when a data breach is suspected
- Crisis management and fraud prevention expense (breach notification, credit monitoring, public relations and associated legal expenses)
- PCI fines and penalties
Please refer https://royalgroupservices.com/nadsrpg/ for specific terms, conditions, limitations, and exclusions that will govern in the event of loss for complete details, terms, conditions and exclusions of the Program.
If you have any questions about this Program, please do not hesitate to contact the program administrator, RGS Limited, LLC at 888-747-8220. If you choose not to participate in this program, you will be required to produce proof of a similar policy through an approved 3rd party. To do so, please contact us at the following email address: Breachinsurance@nex.io
Interchange Cost Adjustment with Rewards Cards August 2023
We want to update you on an upcoming change to pricing. The card brands (e.g. Visa, Discover, American Express, Mastercard) increased the interchange cost for certain rewards cards that offer higher cash back and other reward programs. As a result, we will be implementing a new pricing tier specific to these high rewards cards designed to cover the costs passed through from the card brands. We strive to provide you with the best products and services available at a competitive price. For additional information, please visit our knowledge base article.
We value your continued support and patronage during this change. Thank you for choosing us as your trusted partner.
Discover Inquiry Request Non Response Fee August 2023
Discover Fee of $0.65 assessed per Dispute Inquiry Request with no response received.
The Discover Inquiry Request Non Response Fee will be housed within the Merchant Fee Control (MFC) Grids.
MFC Method/Fee Name: DSCINQNR – NW Disc Inq Req Non Resp-DMS
Per Item Fee Effective November 2023: $0.65 per item
Discover Representment Fee
Discover fee of $1.00 assessed per Dispute Representment Request received by Discover.
The Discover Representment Fee will be housed within the Merchant Fee Control (MFC) Grids.
MFC Method/Fee Name: DSCREPRT – NW Disc Representment-DMS
Per Item Fee Effective November 2023$1.00 per item
Visa Account Name Inquiry Fee (Fee is applicable to the Domestic Region Only)
Visa’s Account Name Inquiry (ANI) functionality enables cardholder name checks to be carried out as part of a zero-amount account verification. An account name inquiry can be carried out as part of card onboarding for recurring transactions, or periodically in advance of a purchase. The extra check can help reduce fraud and scams that might occur in subsequent transactions and can help address both market demand and increasing concern from governments and regulators.
Effective July 2023, Visa will assess a $0.05 fee for each account name inquiry performed as part of a zero-amount account verification transaction.
Visa System Integrity Detail Report Fee (Fee is new to the LAC Region. The method outlined below is applicable to
the LAC Region only.)
Visa rules require acquirers and issuers to properly use and manage declined transaction response codes, eliminate excessive reattempts and maintain data consistency in authorization fields. During the last few releases, Visa implemented System Integrity Fees to incentivize acquirers and issuers to comply with these rules in a phased approach by category code and region. Fiserv added support to receive monthly reporting from Visa to enable merchant billing for these new Integrity Fees. Visa charges a detail report fee to the recipient of these reports.
Effective July 2023, Visa will assess $0.002 per line item associated with each merchant on the billing detail report.
Visa Unmatched Clearing Fee-LAC (Fee is new to the LAC Region. The method outlined below is applicable to the LAC Region only.)
Effective July 2023, Visa will assess a $0.05 fee per clearing transaction that cannot be matched to a previously approved or partially approved authorization transaction.
Visa Account Name Inquiry Fee (Fee is applicable to the Domestic Region Only)
Visa’s Account Name Inquiry (ANI) functionality enables cardholder name checks to be carried out as part of a zero-amount account verification. An account name inquiry can be carried out as part of card onboarding for recurring transactions, or periodically in advance of a purchase. The extra check can help reduce fraud and scams that might occur in subsequent transactions and can help address both market demand and increasing concern from governments and regulators.
Effective July 2023, Visa will assess a $0.05 fee for each account name inquiry performed as part of a zero-amount account verification transaction.
Visa Misuse of Auth Fee-LAC (Fee is new to the LAC Region. The new method outlined below is applicable to the LAC Region only.)
Effective July 2023, Visa will assess a $0.05 fee per approved or partially approved authorization that cannot be matched to a clearing transaction or authorization reversal.
Discover Program Integrity Fee
EFFECTIVE APRIL 2021, DISCOVER IS INTRODUCING A PROGRAM INTEGRITY FEE. BASED
ON THIS FEE AND OUR OWN BUSINESS CONSIDERATIONS, YOU WILL BE ASSESSED A FEE
OF $0.06 PER U.S. MID SUBMISSION LEVEL OR U.S. BASE SUBMISSION LEVEL
QUALIFIED TRANSACTION. THIS FEE WILL APPEAR ON YOUR STATEMENT IDENTIFIED AS
DS PROGRAM INTEGRITY FEE
Discover Ticket Retrieval Fee: (DSCTKRTV)
EFFECTIVE APRIL 2021, DISCOVER IS INTRODUCING A TICKET RETRIEVAL FEE OF $1.00
PER TICKET RETRIEVAL REQUEST THAT IS RECEIVED BY DISCOVER. THIS FEE WILL
APPEAR ON YOUR STATEMENT IDENTIFIED AS DS TICKET RETRIEVAL FEE. .
Visa Excessive Auth Attempts Fees: (Domestic VSAEADOM/Cross Border VSAEAXBR
EFFECTIVE WITH YOUR APRIL 2021 STATEMENT, A VISA EXCESSIVE AUTH ATTEMPT FEE
WILL BE ASSESSED ON VISA AUTHORIZATIONS AFTER 15 PREVIOUSLY DECLINED ATTEMPTS
ON THE SAME ACCOUNT NUMBER WITHIN A 30 DAY PERIOD. THE FEES WILL BE ASSESSED
AS FOLLOWED $0.10 FOR DOMESTIC AND/OR $0.15 FOR CROSS BORDER AUTHORIZATIONS
AS APPLICABLE. THESE FEES WILL APPEAR ON YOUR STATEMENT IDENTIFIED AS EXCESS
AUTH ATTEMPTS DOM AND/OR EXCESS AUTH ATMPS CRS BDR.
Visa B2B Virtual Service Fees
EFFECTIVE APRIL 2021, VISA WILL ASSESS A SERVICE FEE FOR B2B TRANSACTIONS THAT
ARE ASSIGNED THE NEW B2B INTERCHANGE PROGRAMS ALSO BEING INSTALLED IN APRIL
2021. DOMESTIC TRANSACTIONS WILL BE ASSESSED A 0.46% FEE AND INTERNATIONAL
TRANSACTIONS WILL BE ASSESSED A 1.41% FEE AS APPLICABLE. THESE FEES WILL
APPEAR ON YOUR STATEMENT IDENTIFIED AS VIRTUAL B2B US AND INTRNL VIRTUAL B2B
US.
Tiered Pricing Increase
Due to the ever changing fees and requirements form Visa, MasterCard, Discover and American Express, CMS will begin following the card brand schedule of updating fees twice per year from any merchant account on tiered pricing. CMS will increase the Non-Qualified tier by 10 basis points (0.10%) for impacted merchant accounts on the billing statement. Continued use of your merchant account after 30 days will constitute acceptance of the stated rate increase. Merchant accounts not presently on tiered pricing will not be impacted by these updates.
CONTINUING YOUR MERCHANT ACCOUNT WITH US OR USE OF YOUR MERCHANT ACCOUNT
AFTER 30 DAYS WILL REPRESENT YOUR ACCEPTANCE TO THESE TERMS.
Article ID: 36000106347