The single biggest mistake you can make in preparing a new RFP is to combine your other banking services with your merchant services.  This used to be the standard way of doing things as most banks offer credit card processing along with all their other depository services.  However, now, a year after MasterCard, American Express and Visa have changed their rules for in-office, card present transactions, very few banks have responded to offer compliant solutions for cities and counties that want to implement a “convenience fee program.

So first and foremost separate your merchant services (credit card processing) RFP from your other banking services RFP.  Also be aware of new Visa rules that REQUIRE 1) that you have a separate merchant account, 2) the convenience fee be processed as a separate transaction from the fees you are collecting and 3) that Visa debit card transactions have an “incentive” convenience fee of $3.95 or less.  Finally make sure your that your service provider 1) demonstrates they are a Level 1 PCI - DSS compliant service provider 2) confirms that they have registered you with MasterCards Convenience Fee Program and Visas Tax Payment Program and 3) assists you in completing a Self Assessment Questionnaire for each physical location.

Any cties or counties intending to prepare an RFP and that have questions or need examples should feel free to contact me directly: