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REPORTING HUB FOR MERCHANTS OF SIGNATURE CARD SERVICES

MERCHANTINFO

 
 
 


 

September 12, 2017



IMPORTANT AMERICAN EXPRESS® CARD PROCESSING UPDATE


Please read this announcement in its entirety for important changes that affect your merchant account and agreement.




Dear Valued Merchant,

We have great news! We have just made it easy and convenient for you to start accepting American Express® Cards and be accessible its millions of Card Members. The American Express OptBlue program, which primarily targets small businesses, allows you to accept and process American Express cards the same way you do other payment card transactions from major card networks. Effective October 27th, 2017, your business will automatically be enrolled in the American Express Opt Blue program subject to the terms and conditions set forth in this announcement.


Why is this good for your business?

  • One Statement - One statement for all of your American Express, Visa®, MasterCard®, and Discover® network transactions makes reconciliation and expense management even easier.
  • Same-time Funding - Receive funding in one deposit for American Express, Visa, MasterCard, and Discover networks.
  • One Point of Contact - Call one customer service and voice authorization number for American Express, Visa, MasterCard, and Discover networks.
  • Welcome high-spending card members - American Express Card Members not only frequent small businesses, they shop more often and spend more than non-Card Members. And that can lead to more money in your pocket.

On October 27th, 2017, American Express Card transaction rates and fees will be added to your merchant agreement with us, as follows:


Tiered Pricing Rates and Fees for American Express Card Transactions


Program Pricing
Swipe Tier 1
Swipe Tier 2
Swipe Tier 3
Keyed Tier 1
Keyed Tier 2
Keyed Tier 3
AMEX Assessment Fee
AMEX Network Fee
AMEX Non-Swiped Transaction Fee
AMEX Non-Swiped Digital Wallet Fee
AMEX International Transaction Fee
Tiered
1.85%
2.35%
3.50%
2.40%
2.90%
3.90%
0.20%
0.15%
0.30%
0.30%
0.40%


Pass Thru Pricing Rates and Fees for American Express Card Transactions


Program Pricing
AMEX Assessment Fee
AMEX Network Fee
AMEX Non-Swiped Transaction Fee
AMEX Non-Swiped Digital Wallet Fee
AMEX International Transaction Fee
Pass Thru 0.50%
0.20%
0.15%
0.30%
0.30%
0.40%


The following additional fees for Tiered and Pass Thru Pricing will only apply if applicable.


*Other Per Item Rate: Same rate as Visa, MC, and Discover.
*Other Volume %: Same volume % as Visa, MC, and Discover.
*Authorization & Capture Fee: Same authorization & capture fee as Visa, MC, and Discover.
*Voice Authorization Fee: Same voice authorization fee as Visa, MC, and Discover.
*Electronic AVS Fee: Same electronic AVS fee as Visa, MC, and Discover.
*Voice AVS Fee: Same voice AVS fee as Visa, MC, and Discover.
*ARU Fee: Same ARU fee as Visa, MC, and Discover.
*Other applicable rates & fees set forth in your Agreement will also apply

Additional terms and conditions also apply to your acceptance of American Express transactions, and these terms and conditions are set forth in the American Express Addendum to Agreement, which can be found here. Accepting American Express Cards and submitting the related transactions on or after October 27th, 2017 will constitute your agreement to all of the terms and conditions contained in this announcement (including the rates and fees above) and the American Express Addendum to Agreement.

You can simply start accepting American Express Cards on October 27th, 2017 in the same way you accept other major credit cards today. However, if you are using a third-party software/terminal, you may need to contact your provider for an update to allow you to begin accepting American Express Cards on or after October 27th, 2017.

If you do not wish to be enabled to accept American Express Cards, you must contact us within 30 days of the date on this letter. If you have any questions about these changes, or if you want to cancel your American Express Card acceptance after this 30-day window, please contact our Customer Service Team at 800-631-3072 or send us an email at support@signaturecard.com.

We encourage you to contact our Customer Service Team regarding any questions or concerns you may have by emailing support@signaturecard.com or calling 800-631-3072.

 

 

Partnership with G2 Web Services

Remaining compliant with major card network rules is necessary to avoid violations and hefty fines. In order to better serve you, we have teamed up with G2 Web Services to implement Persistent Merchant Monitoring, which identifies content compliance issues and risk. The program is designed to regularly monitor your websites to uncover any content compliance violations, minimize financial losses, and provide you safe harbor from compliance assessments. Effective august 1st, 2017, a fee will be assessed based on your account type.

We encourage you to contact our Customer Service Team regarding any questions or concerns you may have by emailing support@signaturecard.com or calling 800.631.3072.

 

 

Breach Protection Insurance

To protect you from financial and reputational risk that data security compromises pose to you, we are reminding you about our insurance program that covers merchants for breach protection. This insurance program provides your business with protection against both suspected and actual breaches with no deductible covering Visa, MasterCard,Discover card brands, required audits, fines, and other expenses associated with a breach. Merchants who maintain PCI compliance will be covered at no additional cost. However, merchants who remain non-compliant will be assessed a $25.00 fee per month for each merchant account.

If you have not yet completed the steps to reach pci compliance, please start today. Sign on to our preferred PCI vendor control scan's website using the credentials that were previously provided to you. If you have any questions regarding your PCI compliance, contact our customer support at 800-631-3072, or email compliance@signaturecard.com.

 

 

2017 NYCE Merchant Location Participation Fee

Effective May 1, 2017, the NYCE Payments Network announced the merchant location participation fee will be increased from $10.00 to $12.00 annually per participating merchant location. As a courtesy, and to reduce the cost impact to our merchants, signature card services debits the NYCE merchant.