Card not present

Payments - cards - charges.

(CNP).

"Card not present" describes a card transaction in which the merchant does not have physical access to the card to be charged, nor the cardholder.

Most remote transactions are of this kind. For example transactions over the internet, telephone or other remote device.

CNP sees increased fivefold

"Mastercard and Visa charge [cross-border interchange] fees for consumer card transactions where the card issuer is based in either the UK or the EEA, and the merchant’s acquirer and/or point of sale is in the other location.

In the European Union, these fees are capped by the Interchange Fee Regulation (IFR).

Following the UK’s departure from the EU, these caps no longer applied to UK–EEA cross-border transactions.

Mastercard and Visa then raised the interchange fees fivefold for ‘card not present’ (CNP) remote transactions, such as online sales."

UK Payments Systems Regulator - Annual Plan 2023/24.

See also

• Acquirer
• Brexit
• Cap
• Credit
• Credit card
• Cross-border interchange fee
• Debit card
• Emerging Payments Association
• European Economic Area (EEA)
• European Union
• Interchange fee
• Interchange Fee Regulation (IFR)
• Issuer
• Mastercard
• Merchant
• Pay
• Payment
• Payment Systems Regulator (PSR)
• Payments and payment systems
• Processing fee
• PSOR
• Receipt
• Remittance
• Scheme fee
• Visa

Other resource

• Payment Systems Regulator - Annual Plan 2023/24