The Paytriot Network is an ePayment solutions network serving small to medium sized businesses. The company provides card and check processing services and supports the ability of its customers to offer state of the art payment alternatives to consumers at affordable costs.
The Bank Secrecy Act (BSA) defines a group of businesses called Money Services Businesses or MSBs that deal with activities such as Check Cashing, Money Orders, Money Transfers, Travelers Checks, Currency Exchange or Stored Value. Businesses involved fully or partially in these activities are required by law to register. To review the registration forms and requirements, please click here
For more information or to visit the official MSB website, please click here
Additionally, if you are a Payday Loans business, please click here to review Community Financial Services Association of America (CFSA) guidelines.
MasterCard interchange rates are established by MasterCard, and are generally paid by acquirers to card issuers on purchase transactions conducted on MasterCard® cards. Interchange rates are only one of many cost components included in a MDR, and are a necessary and efficient method by which MasterCard maintains a strong and vibrant payments network. MasterCard strives to maximize the value of the MasterCard system, including the dollar volume spent on MasterCard cards, the number and types of MasterCard cards in circulation, and the number and types of merchants accepting MasterCard cards, by setting default interchange rates at levels that balance the benefits and costs to both cardholders and merchants.
Visa uses interchange reimbursement fees as transfer fees between financial institutions to balance and grow the payment system for the benefit of all participants. Merchants do not pay interchange reimbursement fees; merchants pay "merchant discount" to their financial institution. This is an important distinction, because merchants buy a variety of processing services from financial institutions; all of these services may be included in their merchant discount rate, which is typically a percentage rate per transaction.
