The fees are assessed according to the type of credit card that is accepted. While there is no way to discern which card is being presented, it will help to know why the rates vary on your credit card statement.
The Different Kinds
Generally, there are six types of VISA and MasterCard credit cards which customers will present: debit cards, check cards, qualified cards, mid-qualified cards, and non-qualified cards. Debit cards are also known as ATM cards. As you may know, it is the card that is issued in association with a checking account.
Protecting the Customer
A four-digit number known as a PIN (personal identification number) is assigned to the owner of the card. Whenever the owner presents the card for payment, he/she enters the PIN number into the terminal. This protects the owner from identity theft, as no one but the owner can use the card. When the PIN number is entered, the retailer incurs the debit card rate on the transaction.
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