What’s changing?

Visa and Mastercard have made recent changes to their Interchange Rates effective:

1 September 2019

Visa Credit Super Premium adjusted down from 0.858% to 0.847%

Mastercard Credit Commercial adjusted down from 0.759% to 0.682%

Mastercard Credit Consumer Premium adjusted down from 0.539% to 0.495%

1 October 2019

Visa Debit Electronic adjusted down from 0.088c to 0.055c
Mastercard Debit Tokenized Contacless - Low Value <$15.00 adjusted down from 0.055c to 0.044c
Mastercard Debit Standard adjusted down from 0.055c to 0.044c

19 October 2019

Mastercard has made changes to Credit and Debit interchange applicable to refund transactions made to international cardholders. In some instances, the interchange will be higher than that applicable to the original sale (purchase) and in other cases lower.

1 November 2019

Visa Debit Platinum adjusted 0.22% to 0.165c

What does this mean for you?

Interchange Rate structure changes impact only Interchange Plus pricing merchants and your cost of accepting payments via these card types may change.

1 September 2019

Your cost of Acceptance should decrease when accepting these types of cards: Visa Credit Super, Mastercard Credit Commercial Premium, Mastercard Credit Consumer Premium.

1 October 2019

Your cost of Acceptance should decrease when accepting these types of cards: Visa Debit Electronic.

19 October 2019

Mastercard has made changes to Credit and Debit interchange applicable to refund transactions made to international cardholders. In some instances, the interchange will be higher than that applicable to the original sale (purchase) and in other cases lower.

The Mastercard changes effective 19 October 2019 have no bearing on refunds to Australian cardholders. This change effects international cardholders from countries within the Asia Pacific region.

1 November 2019

When accepting Visa Debit Platinum cards, the rate is changing from a % to a flat fee dollar amount. Currently the Cost of Acceptance will vary with each transaction but with this change this fee will be a flat fee of 0.165c regardless of transaction amount.

What do you need to do?

You won’t need to make any changes. The interchange fee will automatically be applied to Visa and Mastercard transactions after the implementation dates advised above.

How will this affect your Cost of Acceptance?

Depending on the card mix acceptance merchants could see an impact to their 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 the schemes online and information is to be updated 1 March 2019.

These rates can be found on the links below:

Visa

Visa interchange on Domestic Transactions in Australia

Mastercard

Understanding interchange

Want to know more?

Visit our interchange categories definitions page for more information.

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