Visa and MasterCard have various changes taking effect this April, as detailed below.
Effective April 15, 2016, Visa will eliminate the following Canada domestic interchange programs for Visa Corporate and Visa Purchasing Card transactions.
Transactions currently qualifying for these rates will move to one of the following existing interchange programs.
|Enhanced Data – Level 2||1.60%|
|Enhanced Data – Level 3||1.40%|
Effective April 3, 2016, a new MasterCard Address Verification Service fee will be implemented. When a merchant performs an AVS verification in the authorization request, a fee of $0.01 will be assessed for both card present and card-not-present transactions.
Effective April 15, 2016, MasterCard is introducing a new Canada domestic interchange program for transactions initiated through the MasterPass Wallet and are properly identified as a MasterPass transaction.
|Interchange Program||Current||Effective April 15, 2016|
|Consumer Base MasterPass Credit||N/A||1.61% + $0.00|
|Consumer High Spend MasterPass Credit||N/A||1.89% + $0.00|
|Consumer Premium High Spend MasterPass Credit||N/A||2.49% + $0.00|
|Consumer MasterPass Debit||N/A||1.00% + $0.00|
Effective April 15, 2016, MasterCard will introduce three new Canada domestic interchange programs – Emerging Sectors, Charity, and Recurring Payments – for consumer debit card transactions.
- Emerging Sectors – Eligible to card present and card-not-present transactions under one of the following MCCs:
- 4900 – Utilities
- 6513 – Real Estate Agents and Managers – Rentals
- 8211 – Schools, Elementary and Secondary
- 8220 – Colleges, Universities, Professional Schools and Junior Colleges
- 8299 – Schools and Educational Services not elsewhere classified
- 8351 – Child care services
- 9311 – Tax Payments
- Charity – Eligible to card present and card-not-present transactions under MCC 8398
- Recurring Payments – Eligible to card-not-present recurring payments
If you have any questions, please contact your Vantiv eCommerce merchant or partner relationship manager.