What is EIRF?
Many businesses often see an Interchange Category called EIRF on their statement. EIRF is an acronym for Electronic Interchange Reimbursement Fee. Ironic because it sounds like a reimbursement to you but is the opposite. EIRF is a transaction interchange rate downgrade from the lowest qualified interchange rate to a far more expensive category.
·        Retail Environment:
i.     Transaction is hand-keyed without AVS information
ii.     Batch was not closed until 72 hours after authorization
iii.     Transaction approved via voice authorization and forced
iv.     Cardholder uses a World Elite, World Business, or World Elite Business Card
·        Restaurant Environment:
i.     Business/Corporate/Purchasing Card transaction
ii.     Same as Retail
·        eCommerce or MOTO (Mail Order/Telephone Order) Environment:
i.     Transaction is hand-keyed without AVS
ii.     Batch not closed daily
iii.     Transaction approved via voice authorization and forced
iv.     Cardholder uses a World Elite, World Business, or World Elite Business Card
·        Supermarket Environment:
i.     Same as Retail
·        Lodging Environment:
i.     Check-In/Out dates are missing
ii.     Folio number is missing
iii.     Settled amount is more than 15% of the authorization amount
iv.     Settled more than 48 hours following Check-Out transaction date
v.     Business/Corporate/Purchasing Card accepted
vi.     Transaction approved via voice authorization
vii.     Cardholder uses a World Elite, World Business, or World Elite Business Card