June 2021 - What’s changing?

Visa are making changes to their Interchange Rates effective 1 June 2021. Visa are amending rates for credit cards.

Rates are excluding GST

VISA

Credit

Card type Old rate New rate

Credit Platinum

Old rate

0.71%

New rate

 0.72%

Credit Signature

Old rate

0.77%

New rate

0.78%

Credit Business

Old rate

0.69%

New rate

0.71%

 

 

What does this mean 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 do you need to do?

You don’t need to make any changes. The interchange fee will automatically be applied to Visa transactions after the implementation date advised above. Your April 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.

Where can you find out more about interchange fees?

Interchange Fees information is published by Visa online and information is due to be updated 1 June 2021.

These rates can be found at:

Visa interchange, opens in new window

Want to know more?

Visit our interchange categories definitions page for more information.

 

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