Friday, March 9, 2012
ETA asks Visa for more thoughtful FANF rollout
On March 7, 2012, the Electronic Transactions Association sent a letter to Joseph W. Saunders, Chairman and Chief Executive of Visa Inc. on behalf of the association's more than 450 members.
The letter points out the many challenges acquirers and merchants face in implementing Visa's new Fixed Acquirer Network Fee (FANF) and suggests, given the complexity of this new type of fee, that Visa delay implementation of the FANF until it provides all needed implementation guidance to stakeholders. The ETA requests in the letter that the directive take effect 90 days after said guidance has been provided.
To read the letter, please visit www.electran.org/docs/ir/ETA_Letter-Visa_FANF_2012-03-07.pdf .
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