Details of the rates offered are outlined in the table below, and demonstrate that even those companies which handle relatively small amounts will immediately see a benefit. (Switch and Visa Debit cards are charged at 20 pence per transaction).
Users of the scheme will also have the advantage of additional security, at no extra cost, provided by the Card Verification Number Scheme (CV2) and Address Verification Scheme (AVS) - designed to combat the rising fraud now emerging on transactions where the buyer is not present. (See page 6 of our March issue for more on this worrying trend or visit www.plasa.org/media/lsi). CV2 is a unique code, found on the card’s signature strip, which has to be quoted prior to purchase, whilst AVS matches address details to provide an additional verification check.
The rates quoted below are for transactions processed and authorized through online electronic terminals. (These can be obtained for £15.74 plus VAT per month).
Moving to Cardnet is as simple as making a phone call and those members who act now can take advantage of a heaviliy discounted joining fee of £30, saving over £200 on the normal joining fee of £250. This fee is completely waived for existing card acceptors.
PLASA members who wish to join should call Lloyds TSB Cardnet direct on 0870 901 7915 and select option 1. Further information on the service can also be found on the PLASA website at www.plasa.org
