CPS Retail Base Prepaid
CPS/Retail Base Prepaid is the Visa Interchange Rate for a card present prepaid card transaction. Visa introduced it in October 2011.
Interchange fee: 1.15% + $0.15
- Introduced October 2011
- Cardholder and card present, signature obtained, single electronic authorization, merchant name, city, and state included in authorization
- Read and transmit complete magnetic stripe, transaction settled within 1 day of authorization, authorization response data included in settled transaction.
- Clearing amount must equal authorization amount except for the following sic codes: 4121 (Taxicabs and Limosines), 5813 (Bars & Taverns), 7230 (Barber & Beauty Shop), 7298 (Health & Beauty Spas). This is to account for tipping in these business types.