Interchange Fee Reconciliation
<New set of product options, separately licensed>
Now WAY4 can import Visa and Mastercard reports that reflect interchange fees charged by IPS on every past transaction. Such information helps acquirers to maintain the pricing transparency on acquiring services: merchant will see prime cost of transaction and how much they pay on top of it. In particular, this transparency is a must for SEPA acquirers who should comply with the MIF regulation in Europe. All fees are presented in the merchant statements and reports.
Acquirers can feed this data into their analytical systems in order to identify the most common gains and losses, measure the profitability of merchant accounts and develop customer portfolios more strategically.
If you are using WAY4 Fee Prediction,
The new feature also reconciles your predicted interchange fees against the actual values. WAY4 records the difference (if any). A wide discrepancy may signal that IPS overcharged the acquirer for some reason. Now you can be alerted to such instances and investigate such issues in timely manner.