What’s changing?

Visa will be adding a new interchange category for Insurance merchants effective September 1, 2018 in Australia.

What does this mean for 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 Visa Debit and Visa Credit transactions.

What do I need to do?

You won’t need to make any changes. The interchange fee will automatically be applied to any transaction after 1 September 2018.

How will this affect my Cost of Acceptance?

Depending on your card mix acceptance, you could see a reduction in your interchange rates. The new interchange rates take effect 1 September 2018 so your statement for September (issued in October) will show your cost of acceptance based on the new rates.

How can I find out more about interchange fees?

Interchange Fees information is published by the schemes and you can find this information by clicking on the links below:

Visa (to be updated by September 1, 2018)

Visa interchange on Domestic Transactions in Australia

Mastercard

Understanding interchange

Want to know more?

Visit our interchange categories definitions page for more information.

Let's talk

We’re ready to help your business

Have us call you
Call 1300 369 852

Merchant support, 24/7
Transact support, Mon–Fri 8am to 8pm (AEST/AEDT)