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Page 10d11 Deter 20,2012 Toe Menhas in the US and US Tenants From Visa Inc tr Mbdhrt Oast Action tAgatbn Settlement—npartaa Changes to Mnthil Aaeptaoc Pradkn b Greeter 2012,the Ward district coot wtseein1 b re Panay Cord ttettO.a Fee and Mbdnq Mama Mena UAbotbn PAX 17201 the manor ma action kterdaap Ikkadm merlin Visa and alter dandan&alarm*apposed a dart setilene*apemen that resolves anthem daps Telmer Visa's 6terduep and men avl eaptrce rotes in the US at its tmitories We are team to Worm you dthe dwkn Wu is making ton ode effective/await 27.201;mate te tresamtms at nvWVs in to US and US tetitodes meadasl.Tits letter describes certain medlars acseptace prrpkathat w4 be emitted Tae test of Visa's revised rules vr01 be mottle at www.NSatat is ltdanuary. V.'.Operatic Regulations heady mow metMCs to enact to retain pietas to steer ste m errs to loran of payment other titan Vim card;:doting offering charts to oritones that Ma present a Via card to steer to another payment type or toe Mena type of Nsa card Following this settlement.US menhants may swAvp Visa Cleat and trareaNea(not debt or prepdd cad transactions)attic am'brat level or at the'product level'bet not both suMes to the brown rteieneec FM,a US raaamaate sadhage on Visa Peat cad masa=oreR mad artan beet.US merchants who surcharge at the'teal leer may Mane a sardine on Visa Cr M can transactions I/the su dome: • is the same for a Visa Cradt care tram Pons,repsdien of to pods Issuer or pmdcct type(e.g.Via Tradtlmd,aka Tradtimd Reward;Vasa Lputra,Visa Meanie ie Preferrredk • is no greater than the merchants average discount rate M Visa Credit card transactions for the preceding one month or 11 months;and • dm cot in any evert egad 4%(even in can where the oertlhau's average&aut rate exceeds 4%). US merchant who surcharge at the pro:ct lever nay Mae a sedhap on Visa Credit cad timmdt at the tudume: • is the sane all unarm on the prtictir prodid type(as.visa Traditional,Visa TratlainS ieward;VW Signature.Visa Signature Preferred),eetaaasof ham • km greater than the merchant's average discount rate assodated with the VW Credit and product type tramnions being surcharged for the preceding me mush or 12 moths,nem the reedited debt cap estabidrd byte Board of the Governess of the ceder Reserve System; • does rot in any evert exceed 4%(even in con where at merchant's avenge disown;rate areas 414. Seined•Sc.US medals that avant gnat or tarp card of other paanmt network Manta,snharempraWm m Mien rmeettbe level pleybn Dell'hrdtMO= That deprtls on whether Ume payment network brands Mae swamp restdet es 0e credit cards and the marten?cosh of accepting that credit cards: • if the medal accepna conpeng talment macwcrl bard that Is as or more menthe to tbe merchant than Visa,and that competing pained network tats the mrthad's/bay to surcharge credit card;the merchant may sudage VkaCredit cards*Mg epee sine way at the medians woad be sawed to surcharge at competing panned renvork's peat care(or on the terms on witch the marched antra sadarps the wmpetry payment network's refit cadsk. • t ttrnendsd accepts a ampetkn pennant newart Mart of credit card that potato or dtectrdy ordibin the medal from surcharging in a patbdar channel of mane(Le.either face-to-face or nontaceto-face),the merchant may not Aatlhame vile Cleda tads bnlea It aW nnNarpn the am p•Ng Palmed MM1Fn's crag cads reprans of at con of that cad to the merdunt.The amount of the redap on the competbn poyerei network Mot Mug equal at least the lesser d: the cost to accept the tonneac brad's credit at or the surcharge imposed as Visa Credit cat TM cost-based comparison is performed by comparing the mrdait's Visa Credit cad tat of acupade(the average effeehhe trdetlange rate an the average of a network fees imposed on merchants or acquirers appl'otle to Von gent card transactions at the marched for the peedng one or twat),months),with the merchant's cost of acceptance for other credit and networks(the average motet aseaM rate for the pressang one or twelve roeMtk t the merchant went determine Its Visa Coda card cold acceptance,a merdmt may use the Visa Credit card cost of acceptance for Its ntehaM tateg y,with Is math on www.vkacom/merdvntwrdhrpm.to compare its Vla Credit an ma of aepaae in the merchant's category to the cost of amphi competing payment network credit cards. A US merchant am'oared our of these competitive level playas Add'provisions by entering Into an ndwtduay negotiated agreement wit aoler peymed networks which the nenart want et Writs its Welty to patarge transattns m the mnpetthe rent card bran,as big as the aceemet is for a flied duration,the rmthad's acceptance of the cmpetdhe credit card brand Is unwed to and cot conditioned on the merchant's entry lob to agreement.to agreencd is supported by independent co aeration,and the agreement eipaessly satinet a ply at Mich the merchant may accept transactions my the competthe pay met network credit card bond and surctume those transactions up to the ns rclant's discount rate for the other crest cad braid. Third,a US methane fiat chooses to sudarrge Visa Credit card unarm mutt satisfy not1Olbn and Macs a aqubea u A US merchant Out intends to surcharge mem prwtle advance written ahothe to both Visa and the merchant's athlhe at haw dart Prim to swawlitg,which mat Identify whether the median kdends to Impose surcharges at the band or product lent Ma d ads tan natty prate at notification to Visa through the www.visa.mn/merdprarthannt older.Wkde noellration,may be provided begrs*sg December 20,1011,actual wch argkm oVka teat transactors may art commence mil January 27,2013.Please coma your acquirer for Heir nonfiction requirements. to addition.a US mtrdari who surcharges mat pomade dear admire to the radars customers(t)at the pbrt of store entry,or in an mite ehharoen on the fad page that nehmen credit card bands,that the merchant Mposes a surcharge that is not greater Non n epptcale merchant dacouc rate for Via Credit card transaction;(21 at the pad of Mirada or sale wfh the customer,of the medal's surcharging practices(adudrg the amount loner surcharges that the nerdunt Imposes and a statement that the srdarge is bang Mposed by the mrdtd). in a manner that does not dinner the brand,netvtdi Muhl hank or the paired card Modus bent useck and DI d the data aroma ol to surcharge on the traeasnn receipt provided byte merchant to Its a/stohas. Medab most mlkue to recta a radebe/s de dm to pay wit Wm the WIeent does not impact mordants'rang abagatsm to accept for payment property Puled Via cwt,haat rewards wth b adatbe the ride Marigee fiat Visa is a derneag under me settlement do not affect any ptdptaon or a US merchant to comply Mb all apptatle state se federal buns.inducting stale ben tetanal l aadhargng d crest or debit ad transactions,at fellers and nn taws regarding deceptive or nudeadbm disclosure Aadkbnel Practices art Polkas • Visa d meet with merchant buying camps that meet wan crania at that seek to negotiate proposals that provide reasonable no mhen:d besefts to both parties • A mersat win be panned to define amain of Von products at a ol Its merdurt owlets that operate under the tame trade name or banner in the tabled States if you have any m acne regarding mordant arpm,please contend your aonatt or Nth www..ia.tmymprtatsurtardmt 'fits kchdes Amain Same,Guam,Commonwealth of the Moth Mariana Sands Puerto NCO,U.S.ONAy%g Wand;an U.S.won dais (LECTOR PO BOX 407066,FT LAUDERDALE,Ft 33340-7066 015595t000001f208664fC3P0042CPIN002115670f0005/168218 101 10