What is Visa FANF?
Visa Fixed Acquirer Network Fee (FANF) is a fee that is assessed to a merchant if they accept Visa in a month.
This fee is unique because it is calculated very differently from many of the fees Visa and MasterCard have imposed over the years. Until now all fees from Visa have been based off the transactions or volume a business processes. This fee is charged if you accept Visa. The size of the fee will vary depending on how you accept Visa and your type of business.
If your business processes all card present transactions (swipe or imprint) your fee will be charged based on the number of locations you have. Depending on business type, merchants with 3 or less locations will be assessed Visa’s fee of $2.00-$2.90 per location. 4-10 locations will be assessed Visa’s fee of $2.90 – $4.00 per location. Tiers continue going up to the final tier of 4,000 locations. This excludes fast food merchants.
If you are accepting Visa transactions without the card present (keying in the card numbers) your account will see a fee based on volume. If you process $50 to $199 a month the fee will be $2.90 from Visa. $200 to $999 per month the volume will be $5.00 per month. This also continues in tiers up to a final tier of $400 million in processing.
If you are accepting both card present and card not present you may be subject to both fees from Visa.
We have attached a PDF detailing each level of the different pricing tiers for the Visa FANF.
The most important thing is to make sure the fee you are charged matches the fees on one of the tiers. Many processors mark up this fee or “accidently” charge to much for it.
Make sure you aren’t being overcharged.
If you want to find out if you are being correctly charged the Visa FANF Contact Us.
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