MasterCard Sets Rules To Help Smaller Businesses

MasterCard said it was changing U.S. rules to provide greater transparency for smaller merchants.

The No. 2 payments network said it’s requiring that acquirers and payment service providers “provide their customers with a clear and detailed disclosure of the fees they are being charged, while also ensuring a minimum of 30 days’ notice before they modify any fees related to MasterCard transactions.”

It also said it was making educational tools available for merchants on how to avoid chargebacks and select a payment service provider.

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