Westpac Visa domestic interchange fees

Visa domestic New Zealand interchange fees applying to New Zealand domestic retail purchase transactions using Westpac issued Visa cards.

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What is an interchange fee?
Interchange is the fee that the merchant's bank (the "Acquirer") pays to the issuers of Visa cards for transactions accepted at the merchant facility where a Visa card has been used (except where the transaction results from the presentation of a New Zealand issued 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.
Domestic interchange 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.
Consumer Credit Products
Fee programme Visa Classic
Visa Gold
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%
Consumer Debit Products
Fee programme Visa Debit
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%
Consumer Prepaid Products
Fee programme Visa Prepaid
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.  
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.
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