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
- Introduced October 2011
- 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.