Payments 101 201709 v5 PDF

Payments 101
An Overview the US Payment Networks

René M Pelegero,
President, Retail Payments Global Consulting Group
A Payment is an Exchange of Value
Value
Financial Non Financial
Outside
In Financial Reward Miles Goods &
Financial
Institutions & Points Services
Institutions
Deposits Credit Lines Credit Lines Cash Other
Today, most payments are funded by credit lines

and deposits being held at financial institutions
Copyright © 2010-2017 RPGC Group LLC

All rights reserved 2
RPGC Payments Framework©
Delivery Layer •This layer evolved to address the deficiencies in

traditional payment instruments
•Sometimes consumers think of this as the payment
Wallets Gateways Aggregators Other instrument
Instrument Layer •Value holders (e.g. financial institutions,) provide

Payment Instruments to access the value
Paper Docs •Instruments contain credentials used to initiate
RTN/Acct transactions (e.g. account numbers)
Credit Cards Debit Cards Prepaid Cards (Checks, Boletos,
Numbers etc.)
Network Layer •Payment instructions initiated by credentials must

travel through payment networks
•Networks are sometimes branded & brands often
Check/Paper Pre-Paid extend to the instruments (e.g. Visa / Mastercard)
VI/MC/AX. etc. EFT Networks ACH Networks Clearing Houses Vendors
Value Layer •Typically value is money which is kept in Financial

Institutions
•Value is also a credit line or a stored value in a pre-paid
Credit Lines Deposit Accounts Stored Value account
Copyright © 2010‐2016 RPGC Group LLC – All rights reserved

RPGC Payments Framework ©
New Players
• New players entering across all Framework layers
• Players expanding their presence across other layers
Delivery Layer
Wallets Gateways Aggregators Other
Instrument Layer
Credit Prepaid RTN/Acct Paper Docs
OBeP userid &
Debit Cards (Checks, Phone #
Cards Cards Numbers Boletos, etc.)
password
Network Layer
VI/MC/AX EFT ACH Check/Paper Pre-Paid Telco OBeP
Clearing C-stores
etc. Networks Networks Houses Vendors carriers services
Value Layer
Other (e.g. FF
Deposit Telco/Retailer Third Party
Credit Lines Stored Value Cash miles, mobile
Accounts Credit Lines Credit Lines
minutes)

RPGC Payments Framework ©
Multiple Access Points
Consumers
Merchants
Delivery Layer
Wallets Gateways Aggregators Other
Instrument Layer
Credit Prepaid RTN/Acct Paper Docs
OBeP userid &
Debit Cards (Checks, Phone #
Cards Cards Numbers Boletos, etc.)
password
Network Layer
VI/MC/AX EFT ACH Check/Paper Pre-Paid Telco OBeP
Clearing C-stores
etc. Networks Networks Houses Vendors carriers services
Value Layer
Other (e.g. FF
Deposit Telco/Retailer Third Party
Credit Lines Stored Value Cash miles, mobile
Accounts Credit Lines Credit Lines
minutes)
Copyright © 2010-2017 RPGC Group LLC 5

All rights reserved
Payments Mix and Match
Pay Before Pay Now Pay Later
How/when consumers pay
Merchant Pull Consumer Push
How merchants collect funds
Batch Based Networks Real Time Networks
Speed of funds transfer
Paper Bank Transfers Local Int’l ATM/EFT Wire

Checks (ACH, Giro) Payment Credit & Transfer
or Pre-paid Debit Cards (SWIFT,
Cards Fedwire)
All rights reserved
Payment “Networks” Around The World

Payments 101
Card Based Networks

Card Processing Models
Two Corners
• Merchant issues card and has direct relationship with cardholder
– Sometimes a third party acts as issuer on behalf of merchant (e.g.
GE, Citi)
• Pros
– Lower payment cost, support promotions, better consumer data
• Cons
– Credit losses, cardholder can only use card at issuing merchant
Merchant Cardholder
Three Corners
• A Third Party card issuer has relationships with both cardholder
and merchant and acts as intermediary between them in a
transaction
• Pros
– Access additional consumers Some 3-corner
model brands
• Cons turning into 4-
– Higher payment costs, corner
additional contract &
reconciliation processes
Merchant Copyright © 2010-2017 RPGC Group LLC Cardholder

Four Corners
• Card Issuer has a relationship with cardholder but not merchant; Card
Acquirer has a relationship with merchant but not cardholder. GPPC
Brand acts as intermediary between four parties in transaction
Acquirer Issuer
Merchant Cardholder
Introducing Processors
• Acquirers and Issuer can perform their functions themselves or engage
third party processor to perform some or all of their functions
Acquirer Issuer
Processor Processor

Merchant All rights reserved
Cardholder 12
Introducing Gateways and PSPs
• Sometimes merchants use Gateways or Payments Service Providers
(PSP) as connectivity tool to access multiple acquirers or to access
alternative forms of payment
Gateway Acquirer Issuer

or
Payments
Service
Provider (PSP)

Merchant All rights reserved
Cardholder 13
Introducing ISOs
• Some Acquirers employ Independent Sales Organizations (ISOs) to
solicit and sell card acceptance services to smaller (e.g. “mom and
pop”) merchants
Acquirer Issuer
Independent
Sales
Organizations
(ISO)
Merchant Cardholder
Four Corner Model
Authorization Request
• Merchant swipes card through POS device and enters transaction
amount
• POS devices composes message including CVV and Track 2 data and
sends it to merchant acquiring bank
• Acquiring bank sends authorization request to Issuer via the GPPC
Brand switch
Acquirer Issuer
Merchant-Device-ID CC Number Amount Curr CVV TRK2 ExDt Time Stamp
061-3448069-3685309 5588320123456789 100.00 USD 425 xxxxx 01/16 20140515102600

Four Corner Model
Authorization Request Processing
• Issuer (or its processor) receives authorization request
• Issuer performs a number of checks prior to authorize transaction
• Response must be delivered back to VI/MC in less than 5 seconds
average
Issuer Approved •Ask customer to sign sales

receipt
•Ask for another payment

Declined instrument
Check card
Place HOLD
data (e.g. Run Check Compose Call •Contact voice
Run velocity & on
check digit) & behavioral balances and response
run fraud
limits checks
checks open to buy
authorization
message (referral) authorization center
amount
checks
Pick-up •Keep card
No Match •Keep card & Code 10

Four Corner Model
Authorization Request Reply
• Issuer replies with a response code and an authorization code
• If transaction is approved, customer must be asked to sign receipt and
merchant “captures “the transaction
• If transaction is declined, customer must be asked for another payment
instrument
Acquirer Issuer
Merchant-Device-ID CC Number Amount Curr CVV TRK2 ExDt Resp Auth # Time Stamp
061-3448069-3685309 5588320123456789 100.00 USD 425 xxxxx 01/16 000 123456 20140515102600
Merchant Copyright © 2010-2017 RPGC Group LLC Cardholder 17

All rights reserved
Four Corner Model –
Special Authorization Cases
• Stand-In Processing
– Provided by VI/MC whenever an Issuer cannot deliver a timely response to
authorization requests
• Balance Inquiries & Partial Authorizations
– In support of pre-paid cards and allowance of “split tender”
• Estimated Authorization Amounts
– Allowed only to special merchant category codes (e.g. T&E and transit, fuel
dispensers, some service related merchants)
– Allows for incremental authorizations
• Authorization Reversals
– To “undo” the effects of an authorization when transaction is not completed
or amount is less than authorized amount
– Must be done within 24 hours (Card Present) or 72 hours (Card Not
Present)
• E-Commerce/MOTO (Card Not Present) Merchants
– Additional information requirements
– Batch processing

Four Corner Model
CNP Authorization Request*
• Merchant asks for billing address and Card Verification Value (CVV2)
• Merchant servers compose message and sends it to merchant
acquiring bank
• Acquiring bank sends authorization request to Issuer via the GPPC
Brand switch
Acquirer Issuer
Merchant-Device-ID CC Number Amount Curr CVV2 Billing Address ExDt Time Stamp
061-3448069-3685309 5588320123456789 100.00 USD 123 123 Main St. Anytown, CA 95131 01/08 20080515102600
* Not including 3DSecure processing Merchant

3 digit Card Verification Number
Copyright © 2010-2017 RPGC Group LLC Cardholder
Four Corner Model
CNP Authorization Processing*
• Issuer (or its processor) receives authorization request
• Issuer performs a number of checks prior to authorize transaction
• Response must be delivered back to VI/MC in less than 5 seconds
average
Issuer Approved •Ask customer to sign sales

receipt
Additional
Checks •Ask for another payment
Declined instrument
Check card
Place HOLD
data (e.g.
Check CVV
Run velocity Run Check
on
Compose Call •Contact voice
check digit) & limits behavioral balances and response
& run fraud
and AVS
checks checks open to buy
authorization
message (referral) authorization center
amount
checks
Pick-up •Keep card
No Match •Keep card & Code 10
* Not including 3DSecure processing Copyright © 2010-2017 RPGC Group LLC

Four Corner Model
CNP Authorization Reply*
• Issuer replies with a response code, an authorization code, AND a CVV and AVS
result codes
• If transaction is approved, CVV and AVS match, proceed and capture, transaction
• If transaction is approved, but CVV and AVS do not match, merchant must decide
if to proceed
• If transaction is declined, customer must be asked for another payment instrument
Acquirer Issuer
Merchant-Device-ID CC Number Amount Curr CVV ExDt Resp Auth # CVN AVS Time Stamp
061-3448069-3685309 5588320123456789 100.00 USD 425 01/08 000 123456 Y P 20080515102600
* Not including 3DSecure processing

Merchant Copyright © 2010-2017 RPGC Group LLC Cardholder 21
All rights reserved
Four Corner Model
Fraud and Risk Management
• Address Verification (AVS)
– Issuer matches the numeric values of the billing address with the billing address
submitted in authorization request
– Can result on full match, partial match, or no match but issuer will not decline
transaction
• Card Verification Value 2 (CVV2)
– Issuer matches number provided in authorization request against its own
calculated value
– Can result on a match or no-match – some issuer will decline transaction on no-
match
• 3D Secure (Verified by Visa and MasterCard’s Secure Code)
– Requires cardholder enrollment with issuer where s/he obtains a userid/password
– Cardholder is re-directed to issuer for authentication
– Can result on an authenticated or non-authenticated transaction
• Other Tools
– Neural networks
– Risk scores
– EMV

Dynamic Currency Conversion
• Definition
– Allows merchants to charge the card (and submit the transaction
for settlement) in the currency of the card, rather than the
merchants’ normal transaction currency
• Benefits
– Merchants get some of the foreign exchange revenue that used to
go exclusively to VI/MC and the issuer bank
– Merchants get to close more sales as studies have shown that
consumers like to pay in their own currency
• Drawbacks
– Consumers are “double charged” as VI/MC and the issuers charge a
“cross border transaction fee” regardless
of currency to replace the old
“currency conversion fee”
– International and cross border assessments
could eliminate any FX gains


24
All rights reserved
€500 + 1%
Cross Border
Conversion Fee
DCC Income €15

Minus 1.85% Assessment
Or € 9.25

All rights reserved
EMV
• What is EMV?
– EMV = Eurocard, MasterCard, Visa
– Name of security standard implemented on chip in credit cards
– Standard implemented across Europe, Asia and many other countries
around the world (e.g. Canada)
• How does it work?
– Chip only
• POS reads Chip and ensures the card is authentic (i.e. not forged)
– Chip and PIN
• POS reads Chip and ensures the card is authentic (i.e. not forged)
• PIN ensures that the user of the card owns the card
• State of Affairs
– Oct. 2015 – liability for counterfeit card
transactions shifts to party not equipped
with EMV (2020 for fuel dispensers)
– 2.3 million EMV chip card accepting merchant
locations and 62% of Visa cards have chips*
* Source: Visa Inc. as of June 2017 Copyright © 2010-2017 RPGC Group LLC
Four Corner Model
Clearing, Settlement, Funds Transfer
• Merchant (or its processor/gateway) transmits all transactions to
Acquirer for a given processing period
• Acquirer collects all transactions from all its merchants and submits
them to the appropriate card scheme (e.g. Visa or MasterCard)
Acquirer Issuer
Merchant-Device-ID5588320123456789
061-3448069-3685309 CC Number Amount USD Curr
100.00 425 CVV
01/08 ExDt 000 Resp123456Auth # Y CVN P AVS20080515102600
Time Stamp
Merchant-Device-ID5588320123456789
061-3448069-3685309 CC Number Amount USD Curr
100.00 425 CVV01/08 ExDt 000 Resp123456Auth # Y CVN P AVS20080515102600
Time Stamp
061-3448069-3685309 5588320123456789 100.00 USD 425 01/08 000 123456 Y P 20080515102600
061-3448069-3685309 5588320123456789 100.00 USD 425 01/08 000 123456 Y P 20080515102600
Merchant Copyright © 2010-2017 RPGC Group LLC

27
All rights reserved
Four Corner Model
• VI/MC collect transactions from all Acquirers (or their processors)
• VI/MC calculates interchange and fees and sorts transactions by
destination BIN
• VI/MC prepares & sends files to issuers (or their processors) for posting
Calculate Calculate Calculate Net Create and

Check acquirer fees Issuer fees Position for transmit
Sort by BIN
acquirer files and and Acquirers and outbound files
assessments assessments Issues to issuers

Four Corner Model
• VI/MC advice all member banks of their respective net positions each
settlement day
• VI/MC settle Net Positions with its members through Wire Transfers
(e.g. Fedwire or SWIFT)
Acquirer Issuer

Four Corner Model
Consumer and Merchant Settlement
• Issuer collects payment from cardholder plus any finance fees if the
cardholder does not pay the full amount (i.e. “revolves”).
• Acquirer pays merchants the value of the transaction minus any
Merchant Service Fees (MSF)
Acquirer Issuer

Four Corner Model
Merchant Service Fees (MSF)
• Merchants have two options to pay for processing fees
– Discount based (e.g. 3.00% - Acquirer pays merchant $97.00 on a $100 transaction,
– Pass-through plus fee (e.g. $0.05/transaction – Acquirer pays merchant $98.07,
netting $0.05)
• Pass through fees are fees charged by Visa and MasterCard, not the
Acquirers
Discount Card Brand

4%
Acquirer
Transact Card Scheme fees 5%
ion Fee
Interchange Assessments Issuer

Other
90%
Fees
Approximate Breakdown of $1 Merchant Fees (USA)

Four Corner Model
Dispute Processing
• Three “Steps”
– Copy or Retrieval Request
– Chargebacks
– Pre-Arbitration and Arbitration
• Chargeback types
– Technical
– Service Related
– Fraud
• Special Cases
– Mail Order and e-Commerce Merchants
– Recurring Transactions

Four Corner Model
Dispute Processing
• Copy/Retrieval request follows the same paths and it is usually
performed before a dispute is submitted as a chargeback
 – VI/MC send chargeback to Acquirer

after Including financial impact on Net Position
 – Acquirer forwards
chargeback to merchant after
including financial impact
on net settlement
 – issuer sends
chargeback Information
Acquirer Issuer electronically to VI/MC
 – cardholder
 – Merchant accepts the initiates dispute
chargeback or resubmits
transaction ( “representation”)
with supporting
documentation to validate
original transaction
Four Corner Model
Dispute Processing
• Visa and MasterCard differ regarding the handling of second
chargebacks. Visa does not support 2nd chargebacks, asking instead to
go to pre-arbitration
 – Acquirer reviews
representation and, if it
believes the supporting
information is adequate  – VI/MC forward representation  – Issuer may accept
represents transaction to Issuer after Including financial representation and re-post
and supporting information
Acquirer impact on Net Position Issuer transaction to cardholder’s
to VI/MC account or – alternatively
go to pre-arbitration
(Visa issuers) or submit
a second chargeback
(MasterCard issuers)
Merchant Cardholder
Card Based Payment Attributes
• Global
– GPPC Cards are accepted pretty much
anywhere around the world
• Timely
– Card payments are authorized and
guaranteed to merchant. Payment to
merchant is usually within 2 days
• Expensive
– Because of interchange and assessments,
GPPC fees can be very expensive in
certain countries

Payments 101
EFT Networks

All rights reserved
USA EFT Networks – Historical Evolution
• Origin of EFT Networks

– Created in the late 1970’s to allow banks to share ATM access
amongst member banks’ customers
– Generally owned by member banks
– They were primarily local – each state had at least one network
– Evolved in the early 1980’s to support transactions at
the Point of Sale using a PIN
• Evolution
– PIN Pad requirement limited the networks’ expansion to
supermarkets and fuel stations
– A merger and consolidation trend started in the
late 1980’s which reduced the number of networks to
4 major ones and a small number of special affiliations
networks

US EFT Networks Footprint
Card Scheme Owned Networks

Specialty EFT Networks

Cards Can Have Multiple Personalities
Signature based,
international use
Signature based, International

international use ATM use
International International
ATM use POS use
International
POS use
Domestic Domestic
Domestic Domestic
ATM use ATM & POS use
ATM & POS use ATM use

All rights reserved
EFT Networks Alternatives & Dilemmas*
MERCHANT BANK
More expensive More profitable
Less expensive Less profitable
* Price differential applies only to unregulated debit cards.

All regulated debit cards cost the same to the merchant
and generate the same revenue to bank
Copyright © 2010-2017 40 RPGC Group LLC
All rights reserved
EFT Network Attributes
• PIN Requirements
– Merchant must invest in PIN Pad devices
• Domestic Only
– Most PIN based cards can only be used domestically
• Less Expensive than GPPC

– Applies only to Non Durbin Regulated Debit Cards
• Less Prone to Fraud

– PIN based transactions have proven to be more secure
than signature based transactions

Payments 101
Bank Transfer or ACH Networks

All rights reserved
Automated Clearing House (ACH) Origin
Deposit and
funds Printing and
availability mailing costs
delay
Lost, stolen
and fraudulent Mail Delays
checks

43
All rights reserved
Automated Clearing House (ACH) Origin

44
All rights reserved
ACH Processing
A Four Corner Model
• There are two Clearing House Operators in the US: The Federal
Reserve Bank and The Clearing House (private)
• A Financial Institution can be both a ODFI and a RDFI at the same time
• Transactions can be both credits and debits to a Receiver’s account
Clearing House
ODFI RDFI
Originator Receiver

ACH Processing
Written Authorization
• An Originator must have a written authorization (sometimes called a
mandate) to debit a consumer’s bank account
• Written Authorization is a “paper” document which is NOT sent to the
RDFI and is only used in case of disputes
Clearing House
ODFI RDFI
AUTHORIZATION AGREEMENT FOR DIRECT PAYMENTS (ACH DEBITS)
Company Company Name________________________________________________________ ID

Number________________________________________
I (we) hereby authorize _______________________________________________________, hereinafter called COMPANY, to initiate debit entries
to my (our) Checking Account / Savings Account (select one) indicated below at the depository financial institution named below, hereafter called
DEPOSITORY, and to debit the same to such account. I (we) acknowledge that the origination of ACH transactions to my (our) account must
comply with the provisions of U.S. law.
Depository Name________________________________________________________
Branch____________________________________________
City _________________________________________________________ State________________ Zip__________________________
Routing Account Number_______________________________________________________

Number____________________________________________
This authorization is to remain in full force and effect until COMPANY has received written notification from me (or either of us) of its termination in
such time and in such manner as to afford COMPANY and DEPOSITORY a reasonable opportunity to act on it.
Name(s)______________________________________________________ ID Number_________________________________________ (Please

Print)
Receiver
Date_________________________________________ Signature_____________________________________________________________
NOTE: DEBIT AUTHORIZATIONS MUST PROVIDE THAT THE RECEIVER MAY REVOKE THE AUTHORIZATION ONLY BY NOTIFYING THE
ORIGINATOR IN THE MANNER SPECIFIED IN THE AUTHORIZATION.

ACH Processing
Origination
• Originator sends daily file(s) to ODFI with all credit and debit transactions
• ODFI collects all the transactions (both credits and debits) from all
Originators and sends them to Clearing House
• Sometimes the “net value” of these files can be $0.00
Clearing House
ODFI RDFI
Originator Receiver

ACH Processing
Clearing House Processing
• Clearing House calculates all processing fees and net position – there is
NO INTERCHANGE
• Clearing House pays/gets paid on the ENTIRE FILE, even though
account existence and funds availability may not have been verified
Clearing House
Calculate Net Create and

Check acquirer Calculate
Sort by ABA- Position for transmit
files & validate processing and
RTN ODFIs and outbound files
data NACHA fees
RDFIs to issuers

ACH Processing
• Clearing House settles net positions by crediting and debiting the DFI’s
accounts with the Federal reserve Bank
• NACHA also collects a fee on every transaction to offset rule making
costs
ODFI Clearing House RDFI

ACH Processing
• ODFI pays or gest paid by Originator on the entire value of the file
submitted, even though account existence and funds availability may
not have been verified. Fee is pennies per transaction
• RDFI credits or debits Receivers directly to bank account. If Receiver is
an individual, generally no fee is charged
Clearing House
ODFI RDFI
Originator Receiver

ACH Processing
Same Day ACH
• Moving from 1 clearing and settlement cycle
per day to 3 cycles per day

ACH Processing
Dispute Processing
• Copy/Retrieval request follows the same paths and it is usually
performed before a dispute is submitted as a chargeback
 – Clearing House send Return to RDFI
after Including financial impact on Net Position
 – ODFI forwards
Return to merchant after
including financial impact
on net settlement
 – issuer sends
Clearing House chargeback Information
ODFI RDFI electronically to VI/MC
 – Receiver
 – Merchant accepts the initiates Dispute by
return, resubmits submitting a WSSUP
transaction ( “representation”),
or contacts Receiver for alternative
account information
Originator Receiver
ACH Processing Attributes
• Domestic only
– International ACH only through “gateways
• Inexpensive
– A flat transaction fee, usually pennies per
transaction
• Time delay
– Lack of authorization and validation capabilities
and delays in confirmation of payment increase
the risk of debit transactions

Payments 101
Payment Network Economics

All rights reserved
Payment Economics
Cost per $50 Transaction in $$
• Card present, Visa & MC using Signature and World card types, all
transactions are domestic and properly authorized. Fees like FANF and
similar monthly fees not added

Payment Economics
Cost per $50 Transaction as %
• Card present, Visa & MC using Signature and World card types, all
transactions are domestic and properly authorized. Fees like FANF and
similar monthly fees not added

Retail Payments Global Consulting Group, LLC
108 2nd Ave. S., Suite #504
Kirkland, WA 98033 U.S.A.
+1-425-522-4110
info@rpgc.com
RPGC Group Proprietary & Confidential

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Payments 101

An Overview the US Payment Networks

Financial Non Financial

Deposits Credit Lines Credit Lines Cash Other

Today, most payments are funded by credit lines

Copyright © 2010-2017 RPGC Group LLC

Delivery Layer •This layer evolved to address the deficiencies in

Instrument Layer •Value holders (e.g. financial institutions,) provide

Network Layer •Payment instructions initiated by credentials must

Value Layer •Typically value is money which is kept in Financial

Copyright © 2010‐2016 RPGC Group LLC – All rights reserved

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC 5

How/when consumers pay

Merchant Pull Consumer Push

How merchants collect funds

Batch Based Networks Real Time Networks

Speed of funds transfer

Paper Bank Transfers Local Int’l ATM/EFT Wire

Copyright © 2010-2017 RPGC Group LLC

Card Based Networks

Merchant Copyright © 2010-2017 RPGC Group LLC Cardholder

Copyright © 2010-2017 RPGC Group LLC

Gateway Acquirer Issuer

Copyright © 2010-2017 RPGC Group LLC

061-3448069-3685309 5588320123456789 100.00 USD 425 xxxxx 01/16 20140515102600

Merchant Copyright © 2010-2017 RPGC Group LLC Cardholder

Issuer Approved •Ask customer to sign sales

•Ask for another payment

No Match •Keep card & Code 10

Copyright © 2010-2017 RPGC Group LLC

Merchant Copyright © 2010-2017 RPGC Group LLC Cardholder 17

Copyright © 2010-2017 RPGC Group LLC

* Not including 3DSecure processing Merchant

Issuer Approved •Ask customer to sign sales

No Match •Keep card & Code 10

* Not including 3DSecure processing Copyright © 2010-2017 RPGC Group LLC

061-3448069-3685309 5588320123456789 100.00 USD 425 01/08 000 123456 Y P 20080515102600

* Not including 3DSecure processing

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC

DCC Income €15

Copyright © 2010-2017 RPGC Group LLC

Merchant Copyright © 2010-2017 RPGC Group LLC

Calculate Calculate Calculate Net Create and

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC

Discount Card Brand

Interchange Assessments Issuer

Approximate Breakdown of $1 Merchant Fees (USA)

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC

 – VI/MC send chargeback to Acquirer

Copyright © 2010-2017 RPGC Group LLC

Copyright © 2010-2017 RPGC Group LLC

• Origin of EFT Networks

Copyright © 2010-2017 RPGC Group LLC

Card Scheme Owned Networks

Copyright © 2010-2017 RPGC Group LLC

Signature based, International

City _______________________________ State Zip

Name(s)______________ ID Number_ (Please