Visa, Mastercard, American Express, and Discover, postponed new interchange rates and fees originally scheduled to take effect in April, 2020 until at least July 17, 2020 due to Covid-19 Coronavirus. The announcements provide some relief to battered and closed businesses. Every Spring most networks tweak their fees.
American Express will delay the changes to their assessment fee and their Inbound Fee (International) until October 2020. TSYS will delay the PULSE annual fee increase ($4.00 increase to current $12.00 fee) until July 2020. The NYCE annual fee will be billed at the new rate of $16.00 in August to all applicable merchants.
Other card network fees were relatively minor. It’s noteworthy that many continue to be penalties related to authorization compliance, for example, fees for not performing authorization reversals.