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Interchange reimbursement fees are transfer fees between financial institutions who participate in the Visa payments system.
Merchants do not pay interchange reimbursement fees; they pay a 'merchant discount fee' to their financial institution which can include a variety of services provided by their financial institution.
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Consumer Credit
Cards |
Commercial Credit |
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Classic, Gold, Platinum |
Infinite |
Business, Corporate, Purchasing |
Prepaid |
Debit |
Standard |
1.65 % |
1.85 % |
2.00 % |
1.25 % |
1.15 % |
Electronic |
1.54 % |
1.74 % |
1.90 % |
$0.05 + 0.25 % |
Performance Program – Tier One |
1.40 % |
1.60 % |
1.80 % |
$0.05 + 0.15 % |
Performance Program – Tier Two |
1.45 % |
1.65 % |
1.85 % |
Industry
Program – Gas |
1.21 % |
1.41 % |
1.80 % |
Industry
Program – Grocery |
1.36 % |
1.56 % |
1.85 % |
Recurring Payments |
1.40 % |
1.60 % |
1.85 % |
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Cash Advance - Manual |
$1.55 (payable from Issuer to Acquirer) |
Cash Advance - ATM |
$0.75 (payable from Issuer to Acquirer) |
There are specific technical and other criteria that each transaction must meet in order to qualify for the different rate categories, but the following glossary will serve as a useful guide in determining which transactions generally qualify for which rates.
Glossary of terms:
Standard: Applies to transactions where the card is not present or the magnetic stripe or chip is not read electronically, for example, online purchases, telephone order transactions, carbon paper card imprints.
Electronic: Applies to transactions that are fully authorized electronically, where the card is present and where the magnetic stripe or chip is read, and where the cardholder signs for the purchase or uses a PIN to authorize the purchase.
Performance Program: Applies to the electronic transactions of retailers that meet specific criteria and that process large volumes of transactions.
Industry Program: Applies to the electronic transactions of merchants that meet the requirements to be classified under specific industries. Currently, the gas and grocery industries are included in this program.
Recurring payments: Applies to transactions that are processed on a recurring basis, where there is an agreement in place between the cardholder and the merchant to pre-authorize the cardholder's card periodically.
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