CPS Retail Key Entered Prepaid

CPS Retail Key Entered Prepaid is the Visa Interchange Fee for a card not present prepaid card transaction.

Interchange fee: 1.75% + $0.20

Change History:

  • Introduced October 2011

Primary Qualifications:

  • Single electronic authorization, authorization must include Address Verification (AVS), order number, and customer service number
  • Purchase date equal to shipping date and within 7 days of authorization
  • Transaction settled on or 1 day after purchase/shipping date
  • Settled amount must equal authorized amount, authorization response data included in the settled transaction.
  • MO/TO merchants should qualify here.

Are a prepaid card and a debit card the same thing?

Similar, but not the same. Unlike a credit card, debit and prepaid cards are not drawing on a line of credit. Debit cards are linked to a bank account and prepaid cards have money loaded onto them. When the card or bank account is out of money, the card stops working.