April 2020 – what’s changing?

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.

Mastercard rates

For a full list of Mastercard rates, please visit the Mastercard rates page.

UnionPay domestic rates

UnionPay domestic rates
Credit card transactions Rate
Domestic Transport Rate 0.05 cents
Domestic Consumer Rate 1.10%
Domestic Commercial Rate 1.80%
UnionPay domestic rates
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%

What do you need to do?

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.

How will this affect your cost of acceptance?

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.

Where can you find out more about interchange fees?

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.

Want to know more?

Visit our interchange categories definitions page for more information.

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