Price List B

The MIF++ offers a merchant receives from payment gateway and terminal providers often contain various catches. These often make it impossible to calculate in advance what the actual transaction fees will be. The merchant will only know this from the transaction statement. We will use an anonymised example of an offer to illustrate its biggest problems.

This explains the calculation of fees in MIF++ mode:The table of Fees charged by the provider looks like this:Below is a table of Scheme Fees, which breaks down the cards by Domestic, issued in the EEA – Intra (Europe) and issued outside of the EEA – Inter (World):
The biggest problems:

This offer has one major problem - its price list is incomplete. The merchant sees two of the three parts of the total fee in the tables, and has to look up the third on the card companies' websites. They will never compare the two offers without studying the multi-page PDF spreadsheets, familiarizing themselves with them, and adding it all up.

Meanwhile, the provider will not even provide the merchant with links to the relevant interchange fee charts. Here they are: Visa, Mastercard.

Billing

We have demonstrated that the actual amount of fees charged in the MIF++ mode is only known to the merchant through the billing. The following excerpt is from a bill from the same provider but from a different client. It is therefore not based on the above offer.

This statement shows a monthly summary of transactions broken down by the type of card used. 

• The first row shows two transactions made with Mastercard business credit cards. By calculation, we find that the interchange fee is 1.50% (51.12 : 3 408 x 100), the average scheme fee (card association fee) is 0.22% (7.39 : 3 408 x 100) and the average processing fee (acquirer fee) is 0.48% (16.48 : 3 408 x 100). The total fee for these two transactions is 2,2% (74,99 : 3 408 x 100).
• We work out the fees for the other individual card types in the same way.

In the last row, we can check the average rate of fees and their individual parts for the whole month. 

• The interchange fee corresponds to 0.28% (159.36 : 56 257 x 100)
• The card association fee corresponds to 0.19% (104.78 : 56 257 x 100)
• The processing fee corresponds to 0,46% (260,67 : 56 257 x 100)
• The average rate of the total fee is 0,93% (524,81 : 56 257 x 100)