IF + + Format to Present New Interchange Fees Separately
The European Union has imposed new regulations on interchange fees. As of December 9, 2015 you can generate your fee statements for card transactions in the IF + + format.
- IF stands for the Interchange Fee - applied to the card issuer,
- the first + is a provision sent to the particular card association
- the second + is a summary of provisions sent to other parties involved
Our tip: The separate presentation of fees charged only applies to the payment card transactions.
The following guide can be used to facilitate statement generating:
- Log in to your merchant account and go to the “Merchant Account” section
- Choose an account
- Go to the “Fees” section in the account you’ve chosen
- Click “Generate” in “Fees”
Enter a date of your statement and select a format and generate that statement.
Our tip: As of December 9, 2015 you can generate the provisions in the IF + + format.