Monday, September 26, 2011

First Data Corp announces new debit card fees

First Data Corp., an Atlanta-based payments processor, sent a notice to clients dated Sept. 14 stating Visa is increasing prices for small-ticket transactions made with debit cards that are subject to the new rate caps to a price equal to 0.05% of a transaction amount, plus 21 cents and a one-cent adjustment for fraud costs.

 

"This modification will help to ensure that Visa remains competitive with respect to Visa Debit card issuance," the notice said, according to a copy reviewed by Dow Jones Newswires.  First Data declined to comment on Friday.

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