New Visa Fee for Excessive Fallback Transactions

by | May 20, 2021

Visa is addressing the higher fraud associated with non-EMV chip card transactions. Starting April 2021, Visa will assess a monthly fee of $0.10 for each fallback transaction occurring at merchant locations with a fallback rate of 10% or above.

When Does a Fallback Transaction Occur?

A fallback transaction occurs when the EMV chip card reader fails to complete the transaction and the merchant is prompted to complete the sale by swiping the magnetic stripe on the credit card. The fallback rate is calculated as the number of magnetic-stripe fallback authorization transactions per the total number of electronically read authorizations.

CHIROTECC is an independent payment processing provider that has dedicated its resources to the Chiropractic community. CHIROTECC follows a unique client centered business model that ensures the latest technology, competitive pricing and best in class service. CHIROTECC was built on strong personalized business relationships within the Chiropractic community which continues to be its mission today. 

Services, Chiropractic Community