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
| 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
| 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.
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