Domestic interchange fees
Interchange is the fee that the merchant's bank (the "Acquirer") pays to the issuers of MasterCard/Visa cards for transactions accepted at the merchant facility where a MasterCard/Visa card has been used (except where the transaction results from the presentation of a New Zealand issued MasterCard/Visa debit card at a New Zealand Eftpos terminal).
This is a variable fee depending on the nature of the transaction, card type and processing environment for the transaction.
The interchange fee can be calculated as a percentage of the transaction value, or set as a fixed dollar amount.
The following interchange fees apply to New Zealand domestic retail purchase transactions* where a Westpac New Zealand issued MasterCard card is used (and including transactions where Westpac is the Acquirer) for the period 17 April 2011 until amended.
*A domestic retail purchase transaction is one where the Acquirer and Issuer of the card that is used are both located in New Zealand.
| MasterCard domestic interchange fees - Consumer credit and commercial products | |
| Fee programme | Rate |
|---|---|
| Charities |
0.00% |
| Strategic Merchant 1 |
0.65% |
| Strategic Merchant 2 |
0.75% |
| Strategic Merchant 3 |
0.85% |
| PayPass (excluding Commercial Cards) |
0.70% |
| Utilities |
0.70% |
| Petroleum |
0.70% |
| Education |
0.80% |
| Recurring Payments |
0.70% |
| Secure Code - Merchants |
1.00% |
| Secure Code - Full UCAF |
1.20% |
| Commercial |
2.00% |
| Consumer Super Premium |
2.10% |
| Consumer Electronic |
1.00% |
| Consumer Standard |
1.40% |
Notes:
- There are specific technical and processing criteria that each transaction must meet in order to qualify for the different fee categories. Your acquiring bank will be able to advise which interchange fees are applicable to your facility.
- Where a transaction might qualify for more than one fee programme, the hierarchy, which is set out above and which is pre-defined by the card scheme, will determine which fee will apply.
- A listing of MasterCard standard fees and further information on the interchange fee is available on the MasterCard website.
The following interchange fees apply to New Zealand domestic retail purchase transactions* where a Westpac New Zealand issued Visa card is used (and including transactions where Westpac is the Acquirer) for the period 17 April 2011 until amended.
*A domestic retail purchase transaction is one where the Acquirer and Issuer of the card that is used are both located in New Zealand.
| Visa domestic interchange fees - Consumer credit products | |
| Fee programme | Rate |
|---|---|
| Industry Programme - Government & Utilities |
NZ$0.70 |
| Industry Programme - Insurance |
NZ$1.00 |
| Industry Programme - Charities |
0.39% |
| Industry Programme - Recurring Payment |
0.70% |
| Industry Programme - Strategic Merchant Electronic |
0.80% |
| Industry Programme - Strategic Merchant (Card Not Present) |
0.98% |
| Electronic |
0.85% |
| Standard |
1.25% |
| Visa domestic interchange fees - Consumer debit products | |
| Fee programme | Rate |
|---|---|
| Strategic Merchant Standard Rate |
0.98% |
| Government & Utilities Standard Rate |
NZ$0.70 |
| Industry Programme - Charities |
0.39% |
| Insurance Standard Rate |
NZ$1.00 |
| Recurring Payment Standard Rate |
0.70% |
| Electronic |
0.60% |
| Standard Rate (Card Not Present & Paper) |
1.25% |
| Visa domestic interchange fees - Consumer prepaid products | |
| Fee programme | Rate |
|---|---|
| Strategic Merchant - Electronic rate |
0.39% |
| Strategic Merchant - Standard rate |
0.98% |
| Industry Programme - Charities |
0.39% |
| Industry Programme - Government & Utilities |
NZ$0.70 |
| Industry Programme - Insurance |
NZ$1.00 |
| Recurring Payment |
0.70% |
| Electronic |
0.60% |
| Standard Rate (Card Not Present & Paper) |
1.25% |
Notes:
- There are specific technical and processing criteria that each transaction must meet in order to qualify for the different fee categories. Your acquiring bank will be able to advise which interchange fees are applicable to your facility.
- Where a transaction might qualify for more than one fee programme, the hierarchy, which is set out above and which is pre-defined by the card scheme, will determine which fee will apply.
- A listing of Visa standard fees and further information on the interchange fee is available on the Visa website.
The information on this page is a guide only. Participation in a Westpac Merchant Credit Card Facility Agreement (and amendment of October 2009), to process credit card transactions, is subject to Westpac’s approval. Westpac’s current lending criteria apply.