Visa Slows Compliance Acceleration Program's Penalties
eWeek is reporting that Visa has announced it is relaxing the fine and fee deadline of September 30th.
Essentially, what this means for non-compliant merchants is that the proposed interchange rate hikes are lessened to simply say that non-compliant merchants will not be eligible for the "best available" tiered interchange rates. However, non-compliant retailers are still facing costs potentially in the millions by not being able to qualify for lower rates during the ever important holiday shopping season.
