Mastercard have made recent changes to their interchange hierarchy rates (effective 1 April 2020). This includes adding several new rates, removing some rates and amending others. This change is across several card types, including credit, debit and pre-paid and affects interchange-plus pricing merchants.
UnionPay are introducing Interchange rates for domestic cards (cards issued in Australia), effective from 22 April 2020.
For a full list of Mastercard rates, please visit the Mastercard rates page.
| Credit card transactions | Rate |
|---|---|
| Domestic Transport | Rate 0.05 cents |
| Domestic Consumer | Rate 1.10% |
| Domestic Commercial | Rate 1.80% |
| Debit and pre-paid card transactions | Rate |
|---|---|
| Domestic Transport | Rate 0.05 cents |
| Domestic Co-Badged Classic or Gold | Rate 0.05 cents |
| Domestic Co-Badged Platinum & Diamond | Rate 0.20% |
| Domestic Co-Badged Commercial Card | Rate 0.20% |
You don’t need to make any changes. The interchange fee will be automatically applied to Visa and Mastercard transactions after the dates advised above. Your February statement will reflect this change.
Interchange rate changes only impact interchange plus pricing merchants and your cost of accepting payments via these card types may change.
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.
Interchange fees information is published by Mastercard online and information has been updated 1 April 2020.
These rates can be found on the Mastercard rates page.
Visit our interchange categories definitions page for more information.
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