Maximising Savings and Efficiency with the Visa Merchant Performance Program
In today’s ever-changing business landscape, staying competitive and financially efficient is paramount for any enterprise, that’s why we’re excited to share a little-known payment secret “Visa’s Merchant Performance Program” and explore what it means for businesses that take card payments.
The Visa Merchant Performance Program: Our plain language overview
Created by Visa, a global leader in payment solutions, the Visa Merchant Performance Program is a game-changer for businesses. This scheme is designed to provide crucial support to merchants who process Visa debit transactions from business cards.
But what’s the real benefit for business? The Visa Merchant Performance Program guarantees that for each transaction a company processes, the interchange fee will not exceed £2.50 per transaction. This cap on interchange fees has significant implications for bottom lines and financial efficiencies.
How Does It Work?
To help you understand, please consider this common scenario:
The business processes a domestic Visa Business debit card transaction where the cardholder is not present for a payment of £500.00 Normally, the Visa
Interchange rate would be 1.15%, resulting in a fee of £5.75. However, with the Visa Merchant Performance Program, the Interchange cost is capped at just £2.50, resulting in a substantial saving of £3.25 (56.5%) for this single transaction.
What You Need to Do Now
To ensure you reap the benefits of the interchange fee cap and ensure cost-effective payment processing for your business, it’s time to take action. As the UK’s largest Independent Payments Broker, acceptcards® are here to guide you through the process.
Get in touch and we’ll assist you with the Visa Merchant Performance Program. We understand that every business is unique, so we’ll work closely with you to conduct a comprehensive payments review. This review will help us determine how your business can maximise the advantages of the interchange fee cap on future bills, ensuring you pay the lowest possible rates for Visa Business Debit transactions.
Ongoing Eligibility and Expert Support
It’s important to note that Visa will periodically review your eligibility for this program to ensure you meet specific criteria. To be registered, your business needs to process at least 100 Visa UK Business
Debit transactions annually and meet one of the following conditions:
At least 50% of the Visa UK Business Debit transactions are of a sale value of £2,500.00 each or greater.
Or, at least 75% of the Visa UK Debit transactions processed are from business cards.
Should your eligibility change, and you no longer meet the program’s criteria, your transactions will no longer benefit from the interchange fee cap of £2.50. However, this event will serve as a trigger for a fresh review to explore other cost-effective options.
At acceptcards®, we’re committed to your success. We explore all avenues across the entire UK payments marketplace to bring you the best rates for your business, ensuring you remain competitive and financially efficient.
With this in mind, taking advantage of the Visa Merchant Performance Program is a remarkable opportunity not to be missed, the opportunity to streamline payment processing, and reduce costs shouldn’t be missed. By working with acceptcards®, you can navigate the program seamlessly and unlock the full potential of this valuable initiative.
Don’t hesitate, reach out to us today and take the first step towards a more cost-effective future for your business.