Upcoming April 21 MasterCard, Visa Canada Rate Changes

January 16, 2017

Effective April 21, 2017, MasterCard is introducing the Consumer Prepaid MasterCard FlexCard in the Canada region.

To support this new item, MasterCard will introduce the following two new interchange programs:

Interchange Program Rate
Flex Prepaid Standard 1.55%
Flex Prepaid Electronic 1.44%

The new Consumer Prepaid MasterCard FlexCard will also be eligible for the following existing Canada domestic interchange program:

Interchange Program Rate
Consumer Charity Core 1.00%

Also effective April 21, 2017, Visa is introducing two new consumer credit and prepaid interchange programs in the Canada region.

Everyday Needs – Other: Available to card present transactions from merchants under one of the following MCCs:

  • 4121 – Taxicabs and limousines
  • 5192 – Books, periodicals and newspapers
  • 5331 – Variety stores
  • 5697 – Tailors, seamstresses, mending and alterations
  • 5811 – Caterers
  • 5912 – Drug stores and pharmacies
  • 5942 – Book stores
  • 5994 – News dealers and newsstands
  • 7210 – Laundry, cleaning and garment services
  • 7211 – Laundries
  • 7216 – Dry cleaners
  • 7230 – Beauty and barber shops
  • 7251 – Shoe repair shops, shoe shine parlors and hat cleaning shops
  • 7298 – Health and beauty spas
  • 7542 – Car washes

Current Interchange Program Effective April 21, 2017
Electronic Consumer Credit 1.42% Everyday Needs Other Consumer Credit 1.36%
Electronic Consumer Infinite 1.61% Everyday Needs Other Consumer Infinite 1.54%
Electronic Consumer Infinite Privilege 2.08% Everyday Needs Other Consumer Infinite Privilege 1.95%
Electronic Consumer Prepaid 1.42% Everyday Needs Other Consumer Prepaid 1.36%

 

Card-Not-Present: Available to card-not-present transactions, excluding recurring.

Current Interchange Program Effective April 21, 2017
Standard Consumer Credit 1.52% Card-Not-Present Consumer Credit 1.52%
Standard Consumer Infinite 1.71% Card-Not-Present Consumer Infinite 1.71%
Standard Consumer Infinite Privilege 2.45% Card-Not-Present Consumer Infinite Privilege 2.45%
Standard Consumer Prepaid 1.52% Card-Not-Present Consumer Prepaid 1.52%

 

If you have any questions, please contact your Vantiv eCommerce merchant or partner relationship manager.

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