Following the initiative, acquirers and payment service providers are required to provide their customers with a detailed disclosure of the fees they are charged, while also ensuring a minimum of 30 days’ notice before they modify any fees related to MasterCard transactions.
MasterCard developed the initiative in consultation with its customers and partners, as well as community organizations through its Master Your Card and Master Your Card Oportunidad public education programs.
MasterCard also launched two education modules, Merchant’s Guide to Chargebacks and Partnering with a Merchant Service Provider, designed to provide merchants with resources for their business operations.
In recent news, MasterCard has entered an agreement with US-based Fiserv technology provider, to deliver common debit EMV solution to Accel debit network.
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