Effective March 1, 2018, both Visa and Mastercard will be reducing the interchange cost for particular interchange fee rates.
Visa will be making minor structure changes to the Strategic Merchants.
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 March 1, 2018.
How will this impact my Cost of Acceptance?
Depending on your card mix acceptance, you could see a reduction in their interchange rates. The new interchange rates take effect 1 March 2018 so your statements for March ( issued in April) 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 March 1, 2018. To find out more more about these changes visit:
Want to know more?
Visit our interchange categories definitions page for more information.