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We are now making your invoices even easier to read by improving the level of detail shown in them.
Your invoice also gives a breakdown of the fees you are charged for each of the card products that you have accepted. For an example of such an invoice, including a full list of card types, please refer to Example Documents below.
Scheme fees for processing Visa Debit cards have increased during 2009; we have therefore increased the pricing on these cards by 1p per transaction.
MasterCard has recently introduced a new credit card, MasterCard Signia, which along with MasterCard World attracts a processing cost premium of 0.6% in addition to your existing MasterCard credit card pricing.
Visa and MasterCard have also increased the cost of accepting cards that are not issued within Europe. As a result, a 0.8% premium will be added to your existing charging tariff when you accept such internationally issued cards.
We are pleased to advise that the price for processing all other cards remains unchanged.
(To sign-up for Electronic Management Information please refer to Registering your email address with Streamline).
1. Why has my Streamline Invoice been changed to show additional information?
Part of an agreement between MasterCard, Visa and the European Commission with regards to the setting of Merchant Service fees within Europe is a ruling that all Card Acquirers across Europe must display separate Merchant Service Charges for Credit, Debit and Commercial card types on their merchants’ invoices. Therefore we, as your chosen card acquirer, have made these enhancements to your Invoice to meet this ruling.
2. I would like to receive details of the premium transactions but I do not have access to email and/or excel. Is there an alternative way of sending this to me?
A summary of premium transactions will be provided to you as part of your standard invoice. This will be broken down against each card type where they have occurred. If you do require more granular information then this is currently only available by excel reports delivered to you by email.
3. Why is the charge for MasterCard World & Signia cards higher than my current MasterCard rate?
These types of premium personal card attract a higher processing cost than the vast majority of personal credit cards. Consequently we are applying a higher processing charge when you accept these transactions.
4. Why do you need to pass the increased processing costs for MasterCard World & Signia cards on to me, and what are the extra costs?
Your Merchant Service Charge includes the cost of processing transactions levied by MasterCard. Processing (Interchange) cost for MasterCard World & Signia are higher than standard personal MasterCard cards and this is therefore reflected in your pricing. Details of Interchange relating to various MasterCard transactions can be found on the MasterCard web site
5. Why do you need to pass on the increased processing costs for all cards issued outside of the EU, and what are the extra costs?
Cards issued outside of the EU attract higher processing costs than those issued within the EU. This change reflects the difference in costs when you accept these cards.
6. Why has the charge for Visa Debit (Electron) increased?
Processing (Interchange & Scheme Fees) costs for all cards are reviewed from time to time by the Card Schemes and are changed to reflect the various operating costs relating to running a cards payment system infrastructure.
7. Why do you need to pass the Visa Debit (Electron) increased processing costs to me, and what are the extra costs?
This change has been made to reflect the costs increase in 2009 for processing Visa Debit (Electron) transactions.
8. Are debit cards issued outside of the EU, and will they attract the 0.8% premium?
Yes, non-EU debit card transactions have similar costs to credit cards
9. Are all other acquirers making the same changes?
These increased costs will affect all UK acquirers.
10. What is MasterCard World & Signia?
These are premium consumer cards giving cardholders additional benefits. Refer to the MasterCard web site for further information.
11. Can I refuse to accept any of the cards with increased charges?
No.
12. Are all Streamline Merchants affected by these changes or are these specific to my business type?
All customers are affected by these changes.
13. Can I expect any other rises in the future?
The Card Schemes are constantly reviewing their charges for all card types and we will continue to ensure that any further charges are advised to you and reflected in appropriate increases and decreases to your Merchant Services Charges terms.
14. Do I need to do anything? / What action do I need to take?
You do not need to do anything. These changes will happen automatically.
15. When will the new rates be applied?
Changes to your invoice and pricing will take effect no earlier than 01 August 2010.
16. I use RBS WorldPay Gateway, will these changes apply?
If you use Streamline for your IMA (Internet Merchant Account) then these pricing and invoice changes will affect you.
Your Streamline invoice will show all the transactions you accept per card product as detailed on this example invoice
216 KB, PDF download
Example of a full invoice
245 KB, PDF download
Example of an Electronic Management Information document
108 KB, PDF download
