September 2020 – what’s changing?

Visa and Mastercard have recently made changes to their Interchange Rates, effective 1 September 2020. These changes are happening across multiple card types, including credit and debit, but only affect Interchange Plus pricing merchants.

Mastercard amended rates:

UnionPay domestic rates
Credit
Consumer Elite - Card Present
0.770%
Consumer Super Premium – Card Present
0.720%
Consumer Premium – High Spend – Card Present
0.720%
Debit
Tokenized Online
0.040c

Visa amended rates:

UnionPay domestic rates
Debit
Card Present 
0.040c

What do you need to do?

You don’t need to make any changes. The interchange fee will automatically be applied to Visa and Mastercard transactions after the above implementation dates. Your September Statement will reflect this change.

How will this affect your cost of acceptance?

Depending on the card mix your business accepts, you could see an impact to your ‘Cost of Acceptance’.

The new interchange rates will be applied to your merchant statements and will show your cost of acceptance based on the new rates.

Where can you find out more about interchange fees?

Interchange Fees information is published by Visa and Mastercard online and information is due to be updated 1 September 2020.

These rates can be found at the Mastercard and Visa websites.

Want to know more?

Visit our interchange categories definitions page for more information.

We’re ready to help your business

Have us call you
Call 1300 369 852

Terminal support, 24/7
Transact support, Mon–Fri 8am to 8pm (AEST/AEDT)