Merchant service fees.

Simplified pricing with a fixed fee per transaction type.

Example of a Blended pricing plan:

I have a small business. A simple pricing plan that’s easy to understand provides me more certainty in what my costs are, so I can plan and include these costs in my budget.

How it works

With Blended pricing, you pay a fixed merchant service fee that includes the interchange fee – giving you cost certainty from month to month. The fee is charged as a percentage of each sale, depending on the transaction type, as shown below.

1 New Zealand EFTPOS and New Zealand debit cards inserted or swiped where cheque or savings are selected, and the transaction is routed via the EFTPOS network.

2 New Zealand debit card tapped on an EFTPOS terminal (also known as a contactless payment).

3 New Zealand cards are domestic. If international or commercial credit card payments make up more than 15% of the total number of transactions you process in a consecutive three-month period, we may need to review your pricing option. You can find out more about when we can make rate changes in your Merchant Services Agreement.

Interchange Plus offers greater transparency in fees – we directly pass on the interchange fee incurred for each transaction you process.

Example of an Interchange Plus pricing plan:

I have a growing business and value the transparency that Interchange Plus pricing provides. My customers pay using different card types, such as PayWave debit cards and business credit cards, which can incur different interchange costs. This helps me better understand my payment processing costs and how my customers prefer to pay.

How it works

With Interchange Plus, your merchant service fee for each transaction is made up of two costs – the variable interchange fee set by the card schemes, plus a fixed Westpac fee that’s calculated as a percentage of sale and covers the other acquiring costs. This means any change to the interchange fees by Visa, Mastercard or UnionPay are passed on to you.

How is the interchange fee calculated?

Your interchange fee for each transaction will vary depending on a variety of factors, including:

• Card type (credit/debit/prepaid)
• Method of payment (instore/online)
• Whether the card is locally or internationally issued.

Interchange Plus Plus is our most transparent pricing structure – we directly pass on the interchange fee as well as a combined scheme and switch fee for each transaction you process.

Example of an Interchange Plus Plus pricing plan:

I have an established business with transaction volumes that require a greater understanding of my payment acceptance costs. Interchange Plus Plus provides greater transparency into the different components that contribute to my payment acceptance costs, helping me better understand the costs associated with accepting card payments.

How it works

With Interchange Plus Plus, your merchant service fee for each transaction is made up of three costs –  the variable interchange fee set by the cardholder’s bank, a combined scheme fee and switch fee that’s based on an estimate of the actual costs, and a fixed Westpac fee that’s calculated as a percentage of sale.