Pricing options & Interchange fees

A look at the pricing options for merchant service fees, which are payable for all credit card transactions accepted through a merchant facility.

Pricing options

Merchant Service Fee options

Westpac is committed to offering multiple pricing options as a part of our Interchange settlement with the New Zealand Commerce Commission. Take a look at our options below.

Blended Merchant Service Fee

Where you're charged the same MSF rate for Visa and for MasterCard credit card transactions.

Unblended Merchant Service Fee

Where you have one MSF rate for Visa and another MSF rate for MasterCard credit card transactions.

Unbundled Merchant Service Fee

With this option, you'll be charged the actual interchange* costs applicable for each type of Visa and MasterCard transaction, plus an Acquiring Charge**. 

*Interchange is the fee that Westpac pays to the issuing bank of the credit card for the transactions accepted at the merchant’s facility. This is a variable fee depending on the nature of the transaction, card type and processing environment for the transaction.  For further detail about interchange rates, click on the Domestic Interchange Fees tab above, or visit the following links:

** The Acquiring Charge covers other Westpac charges associated with processing each Visa & MasterCard credit card transaction.

Domestic interchange fees

What are 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.

Below you'll find specific details on fees for Westpac Mastercard, and for Westpac Visa.

Westpac Mastercard fees

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 programmeRate
Charities
0.00%
Strategic Merchant 1
0.50%
Strategic Merchant 2
0.60%
Strategic Merchant 3
0.70%
PayPass (excluding Commercial Cards)
0.50%
Utilities
0.70%
Petroleum
0.60%
Education
0.80%
Recurring Payments
0.70%
Secure Code - Merchants
1.00%
Secure Code - Full UCAF
1.20%
Consumer Super Premium 1
2.35%
Consumer Super Premium 2
2.10%
Consumer Premium
2.15%
Commercial
2.00%
Consumer Electronic
1.00%
Consumer Standard
1.40%

MasterCard domestic interchange fees - Consumer debit products
Fee programmeRate
Charities
0.00%
PayPass Micropayment (< =NZD 15)
NZD $0.004
Contactless Strategic Merchant 1
NZD $0.060
Contactless Strategic Merchant 2
NZD $0.100
Strategic Merchant 1 - Debit
0.30%
Strategic Merchant 2 - Debit
0.35%
Strategic Merchant 3 - Debit
0.40%
PayPass
0.40%
Government & Utilities
0.50%
Petroleum
0.50%
Recurring Payments
0.70%
Secure Code - Merchants
1.00%
Secure Code - Full UCAF
1.20%
Consumer Electronic
0.50%
Consumer Standard
1.30%

MasterCard domestic interchange fees - Consumer prepaid products
Fee programmeRate
Charities
0.00%
PayPass Micropayment (< =NZD 15)
NZD $0.004
Strategic Merchant 1 - Prepaid
0.40%
Strategic Merchant 2 - Prepaid
0.40%
Strategic Merchant 3 - Prepaid
0.40%
PayPass
0.40%
Government & Utilities
0.50%
Petroleum
0.50%
Recurring Payments
0.70%
Secure Code - Merchants
1.00%
Secure Code - Full UCAF
1.20%
Consumer Electronic
0.50%
Consumer Standard
1.30%

Westpac Visa Fees

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 programmeRate
Industry Programme - Government & Utilities
NZ$0.70
Industry Programme - Insurance
NZ$1.00
Industry Programme - Charities
0.39%
Industry Programme - Recurring Payment
0.70%
Strategic Merchant 1
0.50%
Strategic Merchant 2
0.55%
Strategic Merchant 3
0.60%
Strategic Merchant 4
0.70%
Strategic Merchant 5
0.80%
Strategic Merchant 6
0.98%
Electronic
0.85%
Standard
1.25%

Visa domestic interchange fees - Consumer debit products
Fee programmeRate
Government & Utilities Standard Rate
NZ$0.70
Industry Programme - Charities
0.39%
Strategic Merchant Card Present Rate 1
NZ$0.04
Strategic Merchant Card Present Rate 2
NZ$0.05
Strategic Merchant CNP rate 1
0.50%
Strategic Merchant CNP rate 2
0.55%
Strategic Merchant CNP rate 3
0.60%
Strategic Merchant CNP rate 4
0.70%
Strategic Merchant CNP rate 5
0.80%
Strategic Merchant CNP rate 6
0.98%
Insurance Standard Rate
NZ$1.00
Recurring Payment Standard Rate
0.70%
Electronic
0.30%
Standard Rate (Card Not Present & Paper)
1.25%

 

Visa domestic interchange fees - Consumer prepaid products
Fee programmeRate
Strategic Merchant - Card Present rate
0.39%
Strategic Merchant - CNP rate 1
0.50%
Strategic Merchant - CNP rate 2
0.55%
Strategic Merchant - CNP rate 3
0.60%
Strategic Merchant - CNP rate 4
0.70%
Strategic Merchant - CNP rate 5
0.80%
Strategic Merchant - CNP rate 6
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 MasterCard standard fees and further information on the interchange fee is available on the MasterCard website.
  • A listing of Visa standard fees and further information on the interchange fee is available on the Visa website.