What is Interchange?
Interchange is an unavoidable fee paid by a merchant to a cardholder’s bank to compensate for the value and benefits that the card holder receive when they use their credit card for payments. It enables banks that issue electronic payments to deliver tremendous value to merchants, governments and consumers.
Payment processors are responsible for passing through the interchange rate set by the card brand to their merchants; this is typically done throughout the billing period, so that a merchant sees a final interchange rate on their regular bill.
By receiving interchange fees from the merchant’s bank, issuers are able to bear the risks and costs associated with extending electronic payments to their customers.
|Visa Canada Consumer Credit Interchange Rates 2021|
|Interchange Program||Classic/Gold/Platinum||Infinite||Visa Infinite Privelege|
|Card Not Present||1.40%||1.65%||2.40%|
|Performance Program - Card Present||1.20%||1.49%||1.95%|
|Industry Program - Gas||1.07%||1.34%||1.95%|
|Industry Program - Grocery and Food Retail||1.00%||1.20%||1.95%|
|Industry Program - Everyday Needs||1.20%||1.30%||1.95%|
|Performance Program - Card Not Present||1.35%||1.60%||2.35%|
|Industry Program - Grocery and Food Retail||1.23%||1.42%||1.95%|
|Mastercard Canada Consumer Credit Interchange Rates 2021|
|Interchange Program||Core||World||World Elite|
|Card Present EMV||0.92%||1.22%||1.56%|
|Unsecure Card Present (Mag Stripe)||1.22%||1.52%||1.86%|
|SecureCode / 3DS||1.50%||1.70%||1.90%|
|American Express Consumer Credit Card Interchange Rates 2021|
|Tier 1 - Over $1000|
|Card Not Present||2.30%|
|Card Not Present + Foreign||2.70%|
|Discover Canada Consumer Credit Interchange Rates 2021|
|Interchange Program||Core Reward|
|CPSL - Recurring Payments||1.37%|
|CPSL - Supermarket/Warehouse Clubs||1.32%|
|CPSL - Petroleum||1.18%|
|CPSL - Retail||1.45%|
|Union Pay (UPI) - Card Present Interchange Rates 2021|