CPS Hotel/Car Rental Prepaid
CPS Hotel/Car Rental Prepaid is the Visa Interchange Fee for a prepaid card transaction at a Hotel or Car Rental merchant location.
Interchange fee: 1.75% + $0.20
- Introduced October 2011
- Cardholder and card present, signature obtained, incremental electronic authorizations permitted
- Original authorization must include expected duration of stay/car rental
- Read & transmit complete magnetic stripe, (key entered transactions with the Preferred Customer indicator included in the auth request)
- Folio/car rental agreement number required in clearing data
- Settled amount must be within 15% of total amount authorized
- Transaction date must be check out/car return date
- Transaction settled within 1 day of check out
- Authorization response data included in settled transaction.