What’s changing?
Effective Jul 1, 2017, both Visa and Mastercard will be making changes to their interchange fee structure and rates.
The changes affect credit, debit and pre-paid cards in Australia.
How will it affect me?
If you’re a merchant who’s an Interchange Plus merchant, your cost of accepting payments via these card types may change.
Your current fee/ rate structure will change, meaning you’ll likely see a change in the current interchange fee you pay on any Visa and Mastercard transactions.
Do I need to do anything differently?
No, you won’t need to make any changes. The interchange fee will automatically be applied to any transaction after 1st July 2017.
How will this impact my Cost of Acceptance?
It depends on your card mix. The new interchange rates take effect 1 July 2017, so your statement for July will show your cost of acceptance based on the new rates
How will I find out what am being charged?
Interchange Fees will be published by July 1, 2017 and you can find this information by clicking on the links below:
Visa
Visa interchange on Domestic Transactions in Australia
Mastercard
Want to know more?
Visit our interchange categories definitions page for more information.
