Effective Thursday, July 29, Newtek has updated the Merrick and West America Bank MPAs, version 07-2021. Please use the attached new MPAs for your new paper applications beginning immediately. The changes will be effective simultaneously on the ISO Portal/NewTracker application system.
Here is a summary of the changes to the MPAs.
Statements (Page 1)
- Merchants will be defaulted to receiving an e-statement unless the paper statement is selected in the available check box.
Pricing Changes (Page 3)
- We have added a per item box to the Qual/MID/Non-Discount line for both Credit & Debit Discount as well as Interchange Plus (IC +). The reason for this change is that we have the capability of charging a rate and per item on the monetary transactions, in addition to the authorization fee.
- We have added a percentage (%) box to Pin Debit. The reason for this change is that we have the capability of charging a rate and per item on the monetary transactions, in addition to the authorization fee.
- We have added a per item box to American Express /MID/Non-Discount line, as well as Interchange Plus (IC +). The reason for this change is that we have the capability of charging a rate and per item on the monetary transactions, in addition to the authorization fee.
CCIS
- We have added new language notifying the merchants of the availability of the Commercial Card Interchange System (CCIS) program.
Thank you for your attention to using the new versions of the MPA. If you have questions regarding these changes, please contact your Relationship Manager directly. You can also contact us by phone at 800-277-6990 or email RM@newtekone.com .
We thank you for your continued business.
Best,
Mike
Contact:
Michael Breier
Vice President, ISO/Agent Development
Direct: 516-344-4211
MBreier@NewtekOne.com |
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