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Worldpay from FIS Rate Increases, Fees, and Updates (2024)

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Jun 6, 2024

Worldpay Price Increase, Fees, and Updates (2024)

Last Updated: 6/6/2024

Worldpay from FIS commonly sends notices to customers about new processing rate increases, changes, and noteworthy updates. 

Here at Merchant Cost Consulting, we try our best to stay up to date with changes from payment processors to keep our readers informed. 

Worldpay is Increasing Its Next Day Funding Fee to $9.95 Per Month (August 2024)

Effective August 1, 2024, Worldpay will begin charging $9.95 per month for its Next Day Funding service.

To avoid the fee, merchants using Worldpay can opt out of next day funding and switch to the standard funding option. However, this would delay funding requests by one day and result in businesses receiving funds 24-48 hours after each settlement. 

This rate increase was not publicly announced by Worldpay. But we obtained a copy of the notice while auditing statements from one of our clients using Worldpay:

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FIS Discounts Shut Downs (and a New Rewards Program Expected Later in 2024)

The FIS Discounts program officially shut down on December 31, 2023—meaning it’s no longer an option for merchants in 2024. 

Merchants who were previously receiving FIS Discounts as part of a complimentary service were notified by FIS Global about these changes.

The notice says that this should not impact any regular processing. Worldpay also said that they’re expecting to launch a new rewards program later in 2024.

Check back here for updates, or subscribe to our newsletter to stay in the loop. We’ll keep you updated with any new updates.

Worldpay Updates June 2023

Worldpay is decommissioning its TruSpend Lite platform on June 27, 2023. If you’re one of the WorldPay merchants who has been using this complimentary service, you’ll no longer have access to it after 6/27/2023.

Merchants can use Worldpay’s iQ platform for similar reporting features, payment insights, transaction data, and more.

Worldpay Rate Increases Effective April 2023

As of April 1, 2023, merchants using Worldpay from FIS may notice some transactions with a new or increased Transaction Risk Fee (TRF).

Effective April 2023, Worldpay is implementing a $0.10 fee for all Visa transactions with POS Entry Code (91) MSD.

The fee, coming from a Visa assessment, is due to the way contactless payment technology has changed in recent years. EMV technology is more secure than the legacy MSD contactless solutions. So merchants who are still using MSD for contactless payments will have to pay the $0.10 fee for every Visa charge that’s identified this way. Learn more about EMV compliance here.

Here are some additional rate increases related to Visa that will impact merchants using Worldpay from FIS:

  • Visa Dispute Response (21-25 days) – $1.75
  • Visa Dispute Response (26-30 days) – $2.15
  • Visa Case File Submitted – $12.50
  • Visa Image Documentation – $1.50
  • VS Account Name Inquiry Fee – $0.05

Similar rules and charges are bing applied to Mastercard, as all Worldpay merchants accepting contactless transactions must support EMV contactless capabilities.

Merchants that process any MSD contactless transactions on or after April 1, 2023 may be billed $250 per quarter.

Worldpay from FIS Updates – January 2023

Wordplay is preparing merchants for upcoming changes to Mastercard fees.

In October, the “MC Excessive Auth Integrity Fee” threshold dropped from 20 to ten transactions. Effective January 2023, this fee is increasing to $15.

Merchants using Worldpay (FIS) should also be aware that the “Discover Communication Fee” that was previously on your statements has been renamed as “Discover Transaction Fee.” You can read more about the latest Discover interchange rates here.

Worldpay from FIS Rate Increases and Processing Fees Effective 10/1/22

Worldpay attached a notice to merchant statements about upcoming changes regarding fallback transactions. Fallback transactions occur when chip-enabled cards are used at chip-capable terminals, but the chip technology was not used to capture card data.

The notice was sent to remind merchants that if a fallback transaction occurs, the merchant is considered noncompliant by Mastercard. Mastercard has reduced its threshold for fallback transaction penalties from a 3% to a 1% error rate, but they increased the fine for noncompliant merchants.

Effective August 1, 2022, Mastercard will impose an EMV Performance Noncompliance fee minimum of $1 for errors greater than 1% of the merchant’s total Mastercard transactions per month.

Reasons for EMV fallback include:

  • Outdated POS software
  • Improper use of cards
  • Inserting cards upside down
  • Removing credit card too early
  • Chip malfunctions

Fees will be imposed based on the merchant’s volume starting in August 2022, and any fines will be assessed on September 2022 statements. According to Worldpay, fees can change on a monthly basis depending on the errors and activity at your locations.

EMV compliance is designed to prevent fraudulent transactions. You can learn more about EMV fallback and EMV fallback fees here to ensure your merchant account can accept payments without extra fees.

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Some Worldpay customers have been automatically enrolled in a 60-day free trial of ReviewTrackers. This is a reputation management service, bringing reviews from hundreds of platforms to a single location for you to monitor. If your free trial of ReviewTrackers starts on June 1, 2022, it will automatically renew on August 1, 2022, for $24.95 per month.

You must opt out of the service if you don’t want to see this charge on your statements after the trial expires. Visit htttps://reviewtrackers.com/worldpay/optout to avoid this charge.

Worldpay Price Increase Effective July 2022

American Express postponed its new Acquirer Transaction Fee from April 1, 2022 to July 15, 2022.

Some Worldpay merchants were incorrectly charged the fee early, prior to Amex announcing the postponement of this charge. Worldpay from FIS is refunding that fee to merchants who charged early. The Amex Acquirer Transaction Fee will be assessed on July 2022 bills, which are typically received in early August.

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Worldpay from FIS Rate Increases Effective April 1, 2022

Here’s a summary of the latest updates and rate increases going into effect on 4/1/2022:

  • Network and Processor Access Fee will be 0.15% on all applicable transactions for Visa, Amex, Mastercard, and Discover.
  • The Mastercard Acquirer Fee rate is being renamed “Mastercard and Processor Access Fee (MAPAF).” The rate is not changing.
  • Visa, Mastercard, Amex, and Discover are all making changes for the US Region effective 4/1/2022. See the updates below:

Visa Updates and Interchange Fees

  • Visa is introducing new acceptance fees.
  • VS Address Verification Fee – $0.001
  • VS Issuer Never Approve DOM – $0.10
  • VS Issuer Never Approve Cross Border – $0.15

The issuer never approve charges will be billed on the first attempt and each subsequent reattempt for Visa Category 1 declines.

Mastercard Updates Effective

  • MC Digital Enablement Fee increasing from 0.01% to 0.02%.
  • MC Digital Enablement Fee will have a minimum billable amount of $0.02 and maximum billable amount of $0.20.
  • Mastercard is introducing a new group of fees for buy not pay later transactions.
  • MC Installment Fee Group A – 1.30%
  • MC Installment Fee Group B – 0.10%
  • New Mastercard Pre Arbitration Fee – $15.

The pre arbitration fee lets customers resolve disputes before arbitration.

American Express Updates

  • Amex Participation Assessment Fees are increasing from 0.16% to 0.165%.
  • A new fee called Amex Acquirer Transaction fee will be applied to all credit purchases, and billed at $0.02.

Discover Updates

  • Discover Assessment Fee increasing from 0.13% to 0.14%.
  • Discover is adding new acceptance fees.
  • Discover Account Verification Fee – $0.02
  • Discover Address Verification Fee – $0.005
  • Discover Digital Investment Fee – 0.01%

The Digital Investment fee will be charged on CNP transactions.

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Worldpay from FIS Rate Increases Effective 2/1/22

Worldpay from FIS attached a notice to customer statements about rate increases and updates going into effect on 2/1/2022. Here’s a summary of those updates:

  • Discount rates and per transaction fees for Visa, Mastercard, and Discover will be assessed an additional 0.0966% and $0.045 per transaction.
  • Transaction Risk Fee for non-qualified, mid-qualified, and high-risk rates will be assessed an additional 0.15%.
  • Customers have the right to terminate their agreement without an early termination fee if the non-pass through fees are added or increased in accordance with their message. Customers can terminate their contract within 90 days of each addition or increase.

Worldpay from FIS encourages customers to call the number at the top of their statements or reach out to their Relationship Manager if they have questions about this increase for transactions with credit and debit cards.

About Worldpay (FIS)

FIS has been a leader in the financial technology space for more than 50 years. In 2019, they completed a merger with Worldpay—combining a global fintech leader with a global powerhouse in the merchant acquirer space.

Today, Worldpay from FIS processes more than 110+ million transactions each day between online, mobile, and in-person sales. They offer services to customers in 126 currencies across 146 different countries. 80% of the top airline, retail, and internet companies rely on Worldpay from FIS.

As the largest payment processor in the US, Worldpay offers a wide range of professional services and solutions for alternative payment types for merchants.

Final Thoughts on Worldpay Interchange Rates

Regardless of the payment processor a merchant uses to accept credit cards, there are always credit card merchant fees that can be alleviated, reduced, or refunded. Worldpay is no exception to this.

You can learn more about payment processing, merchant services, and how credit card processing rates and fee work leveraging our Credit Card Processing Complete Guide.

Take the time to understand your statements, your pricing, and the credit card processing company you are dealing with to get a true understanding of what to look out for, ensuring you’re getting competitive pricing for credit and debit card payments accepted by your business. This will help you keep more money in your business bank account.

matt rej
By Matt Rej

Matt has been working in the financial world for over 7 years and after quickly learning the world of payments, for the past 5 years Matt has been exposing the industry for what it truly is. Matt oversees the sales team for MCC, developing new employees and educating enterprise to brick and mortar customers on how they can cut costs within the payments world. Matt has a Bachelor’s Degree in Business Administration from Bryant University and currently resides in South Boston, Massachusetts.

More Articles by Matt »

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2 Comments

  1. Tom Engle

    Try dealing with their Payfac platform, amoung the most egregious pricing in the industry.

    Reply
    • Matt Rej

      Hi Tom – thanks for the update on this. If you are still in need of assistance with pricing on FIS’s payfac platform, we are happy to advise.

      Reply

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