Differences

This shows you the differences between two versions of the page.

--- faq:emv-us [2019/06/03 13:40 (5 years ago)] – [Level 3 Processing] craig
+++ faq:emv-us [2019/06/03 14:03 (5 years ago)] – kevin
@@ Line 181: / Line 181: @@
 Processing a debit card using a PIN causes the transaction to be routed through a debit network instead of through Visa, MasterCard or Discover interchange.
 In the case of a PIN debit transaction, the debit network through which the transaction is routed will determine the charge for the transaction.
 ==== Which method is cheaper? ====
 Signature debit transactions are less expensive than PIN debit for businesses with smaller average tickets. PIN debit transactions are less expensive for businesses with larger average tickets.
@@ Line 186: / Line 187: @@
 This difference in charges is mainly due to the processor's markup that is applied to each type of transaction.
 In the case of a signature debit transaction both a percentage-based and transaction-based markup is applied by the processor.
 ==== Durbin Amendment Cap ====
-The Durbin Amendment to the Wall Street Reform and Consumer Protection Act has capped debit fees at 0.05% plus a $0.21 transaction fee for banks with assets of $10 billion dollars or more. Banks with less than $10 billion in assets have not had their fees capped. The rates used in the examples above assume that unregulated debit cards were accepted.
+[[Durbin Amendment Cap|The Durbin Amendment]] to the Wall Street Reform and Consumer Protection Act has capped debit fees at 0.05% plus a $0.21 transaction fee for banks with assets of $10 billion dollars or more. Banks with less than $10 billion in assets have not had their fees capped. The rates used in the examples above assume that unregulated debit cards were accepted.
 The Durbin Amendment has caused the card brands to create two sets of fees: one for regulated card-issuing banks, and another for unregulated card-issuing banks.
-==== Level 2 Processing ====
+==== Level 2 Processing (Level II) ====
 Level 2 Processing sends tax, purchase order number or customer number information. Purchase Card transactions (credit cards assigned to businesses) require this information and transactions without it will be subject to higher transaction rates. **Windward System Five supports Level 2 with some processors**.
-==== Level 3 Processing ====
+==== Level 3 Processing (Level III) ====
 Level 3 processing has field information such as the items sold or discounts given. Credit card transactions submitted can obtain lower interchange rates and provide merchants with a lower processing cost. **Level 3 Processing not supported**.