Credit Card Processing Glossary

General:  Visa Consumer Credit - Electronic Interchange Rate (EIRF)

This category is for Visa consumer credit cards (non-rewards and non-business).

EIRF is a very common downgrade for E-Commerce merchants but it can also hit physical merchants as well. Some reasons why a transaction will downgrade to EIRF are:

• Invoice or order number not entered
• Not entering the billing address street number and zip code (do not need to match)
• Authorization and settlement amount not matching
• Transaction not batching with in 24 hours

For ecommerce merchants the above circumstances are most likely to happen when manually entering or modifying orders at using the virtual terminal. Physical merchants often experience EIRF on every keyed-in transaction because it is cumbersome to enter the customer's address on many terminals and POS systems.

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