December 2023 – What’s changing?

Visa and Mastercard are making changes to their Interchange rates. The changes are effective from 1 December 2023 and covers selected domestic credit card types.

New rates

Browse interchange rates for different card types.

Visa credit cards

Visa credit cards new rates
  Transaction type Ex. GST Inc. GST

Credit Fee Program

Transaction type

Service station

Ex. GST

0.23%

Inc. GST

0.253%

Credit Fee Program

Transaction type

Supermarket

Ex. GST

0.23%

Inc. GST

0.253%

Credit Fee Program

Transaction type

Recurring payments

Ex. GST

0.23%

Inc. GST

0.253%

Mastercard credit cards

Mastercard credit cards new rates
  Transaction type Ex. GST Inc. GST

Consumer Super Premium

Transaction type

Tokenized online

Ex. GST

0.640%

Inc. GST

0.704%

Consumer Premium

Transaction type

High spend, tokenized contactless

Ex. GST

0.740%

Inc. GST

0.814%

Consumer Premium

Transaction type

High spend, other card present

Ex. GST

0.630%

Inc. GST

0.693%

Consumer Premium

Transaction type

High spend, tokenized online

Ex. GST

0.570%

Inc. GST

0.627%

Consumer Premium

Transaction type

High spend, other card not present

Ex. GST

0.720%

Inc. GST

0.792%

Consumer Standard

Transaction type

Tokenized contactless

Ex. GST

0.200%

Inc. GST

0.220%

What this means for you

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

What 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 1 December 2023. Your December statement will reflect this change.

How this affects 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.

More information about interchange fees

Interchange fees information is published online by Visa and Mastercard and information on 1 December 2023.

Find these rates at:

Want to know more?

Visit our interchange categories definitions page for more information.

Get in touch

Contact us

Visit our business banking contact page for how-to-guides and FAQs, as well as contact numbers.

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Let our business banking specialists help you in person.

Important information