{"id":3219,"date":"2020-06-19T19:36:41","date_gmt":"2020-06-19T19:36:41","guid":{"rendered":"https:\/\/trc-parus.ru\/?p=3219"},"modified":"2020-06-19T19:40:33","modified_gmt":"2020-06-19T19:40:33","slug":"visa-and-mastercard-interchange-fees-in-canada-are-changing","status":"publish","type":"post","link":"https:\/\/trc-parus.ru\/blog\/visa-and-mastercard-interchange-fees-in-canada-are-changing\/","title":{"rendered":"Visa and MasterCard Interchange Fees in Canada are Changing"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3219\" class=\"elementor elementor-3219\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2c3f150b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2c3f150b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ceeb7d4\" data-id=\"ceeb7d4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4b513570 elementor-widget elementor-widget-text-editor\" data-id=\"4b513570\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p>Interchange is the fee collected by credit card issuers on every transaction. These interchange rates in Canada are set by Visa and MasterCard and are mandatory for all credit card processors.&nbsp;&nbsp;<\/p><p><br><\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:heading --><\/p>\n<h2>Changes in Canadian Interchange Fees<\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>Visa and MasterCard are changing their interchange fees starting on <a href=\"https:\/\/trc-parus.ru\/dam\/VCOM\/regional\/na\/canada\/Support\/Documents\/visa-canada-interchange-rates-april2020.pdf\">July 18, 2020<\/a> and <a href=\"https:\/\/trc-parus.ru\/content\/dam\/mccom\/en-ca\/Documents\/English%20-%201-May-2020_Apr17.pdf\">August 1, 2020<\/a>, respectively. The dates are pushed back three months due to the impact of COVID-19. We are seeing the rates for some card types increasing, but overall, the majority of card types for both Visa and MasterCard are decreasing. This is in line with the <a href=\"https:\/\/www.canada.ca\/en\/department-finance\/news\/2018\/08\/new-agreements-to-deliver-lower-credit-card-costs-for-small-and-medium-sized-businesses.html\">commitment<\/a> made by both Visa and MasterCard to the Canadian government in 2018 to lower interchange fees. MasterCard is also introducing a new ultra elite category called Muse MasterCard\u2122.&nbsp;<\/p><p><br><\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:heading --><\/p>\n<h2>TRC-Parus Gives Lower Payment Fees<\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>At TRC-Parus, we are the <a href=\"https:\/\/www.newswire.ca\/news-releases\/clearly-payments-inc-announces-appointment-of-new-ceo-and-the-launch-of-membership-payments-848712469.html#:~:text=VANCOUVER%2C%20March%205%2C%202020%20%2F,firm's%20new%20Chief%20Executive%20Officer.\">first company<\/a> in Canada to offer <a href=\"https:\/\/trc-parus.ru\/pricing\/membership\/\">membership pricing<\/a> to our customers. A decrease in interchange fees, as is the case for most card types, will result in a direct benefit to our customers because we pass on the cost set by Visa and MasterCard directly to our customers with no markup or hidden fees. Similarly, our <a href=\"https:\/\/trc-parus.ru\/pricing\/cost-plus\/\">cost-plus<\/a> pricing will also result in a net decrease in fees with the decrease in interchange fees. Our <a href=\"https:\/\/trc-parus.ru\/about\/\">mission<\/a> at TRC-Parus is to <a href=\"https:\/\/trc-parus.ru\/about\/why-us\/\">drive down<\/a> the cost of accepting payments in a <a href=\"https:\/\/trc-parus.ru\/blog\/a-culture-of-radical-transparency\/\">transparent <\/a>manner. On the other hand, under a tiered-pricing model offered by other credit card processors, certain card types are grouped together and a rate is determined for that group of cards. When interchange rates decrease, oftentimes, the rates set for that particular tier are not reduced to reflect the decrease in interchange rates.&nbsp;<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>You can find a complete list of the new rates for&nbsp;<a href=\"https:\/\/trc-parus.ru\/dam\/VCOM\/regional\/na\/canada\/Support\/Documents\/visa-canada-interchange-rates-april2020.pdf\" style=\"background-color: rgb(255, 255, 255); text-decoration-line: underline;\">Visa<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/trc-parus.ru\/content\/dam\/mccom\/en-ca\/Documents\/English%20-%201-May-2020_Apr17.pdf\" style=\"background-color: rgb(255, 255, 255); font-size: 1rem; text-decoration-line: underline;\">MasterCard<\/a>.&nbsp;<span style=\"font-size: 1rem;\">We have summarized below some of the key changes.<\/span><\/p><p><span style=\"font-size: 1rem;\"><br><\/span><\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:heading --><\/p>\n<h2><strong>Visa<\/strong> Interchange Fees<\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:table --><\/p>\n<figure>\n<table>\n<tbody>\n<tr>\n<td><strong>Card Type<\/strong><\/td>\n<td><strong>Current Rate<\/strong><\/td>\n<td><strong>New Rate&nbsp;<\/strong><\/td>\n<td><strong>Change<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong><em>Card Present<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Swipe\/Chip Consumer<\/td>\n<td>1.42%<\/td>\n<td>1.25%<\/td>\n<td>-0.17%<\/td>\n<\/tr>\n<tr>\n<td>Swipe\/Chip Infinite\/High Spend<\/td>\n<td>1.61%<\/td>\n<td>1.57%<\/td>\n<td>-0.04%<\/td>\n<\/tr>\n<tr>\n<td>Swipe\/Chip Infinite Privilege\/Premium<\/td>\n<td>2.08%<\/td>\n<td>2.08%<\/td>\n<td>0.00%<\/td>\n<\/tr>\n<tr>\n<td><strong><em>Card not Present (CNP)<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>CNP Consumer<\/td>\n<td>1.52%<\/td>\n<td>1.40%<\/td>\n<td>-0.12%<\/td>\n<\/tr>\n<tr>\n<td>CNP Infinite\/High Spend<\/td>\n<td>1.71%<\/td>\n<td>1.65%<\/td>\n<td>-0.06%<\/td>\n<\/tr>\n<tr>\n<td>CNP Infinite Privilege\/Premium<\/td>\n<td>2.45%<\/td>\n<td>2.40%<\/td>\n<td>-0.05%<\/td>\n<\/tr>\n<tr>\n<td><strong>Recurring<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Recurring Consumer<\/td>\n<td>1.37%<\/td>\n<td>1.25%<\/td>\n<td>-0.07%<\/td>\n<\/tr>\n<tr>\n<td>Recurring Infinite\/High Spend<\/td>\n<td>1.56%<\/td>\n<td>1.53%<\/td>\n<td>-0.03%<\/td>\n<\/tr>\n<tr>\n<td>Recurring Infinite Privilege\/Premium<\/td>\n<td>1.95%<\/td>\n<td>1.95%<\/td>\n<td>0.00%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p><!-- \/wp:table --><\/p>\n<p><!-- wp:heading --><\/p>\n<h2><strong><br><\/strong><\/h2><h2><strong>MasterCard<\/strong> Interchange Fees<\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:table --><\/p>\n<figure>\n<table>\n<tbody>\n<tr>\n<td><strong>Program Type<\/strong><\/td>\n<td><strong>Current Rate<\/strong><\/td>\n<td><strong>New Rate&nbsp;<\/strong><\/td>\n<td><strong>Change<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong><em>Core<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Card Present EMV<\/td>\n<td>1.30%<\/td>\n<td>0.92%<\/td>\n<td>-0.38%<\/td>\n<\/tr>\n<tr>\n<td>Digital Commerce<\/td>\n<td>1.65%<\/td>\n<td>1.76%<\/td>\n<td>+0.11%<\/td>\n<\/tr>\n<tr>\n<td>SecureCode&nbsp;<\/td>\n<td>1.30%<\/td>\n<td>1.50%<\/td>\n<td>+0.20%<\/td>\n<\/tr>\n<tr>\n<td>Charity<\/td>\n<td>1.00%<\/td>\n<td>0.92%<\/td>\n<td>-0.08%<\/td>\n<\/tr>\n<tr>\n<td><strong><em>World<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Card Present EMV<\/td>\n<td>1.42%<\/td>\n<td>1.22%<\/td>\n<td>-0.20%<\/td>\n<\/tr>\n<tr>\n<td>Digital Commerce<\/td>\n<td>2.29%<\/td>\n<td>2.00%<\/td>\n<td>-0.29%<\/td>\n<\/tr>\n<tr>\n<td>SecureCode&nbsp;<\/td>\n<td>1.42%<\/td>\n<td>1.70%<\/td>\n<td>+0.28%<\/td>\n<\/tr>\n<tr>\n<td>Charity<\/td>\n<td>1.25%<\/td>\n<td>1.22%<\/td>\n<td>-0.03%<\/td>\n<\/tr>\n<tr>\n<td><strong><em>World Elite<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Card Present EMV<\/td>\n<td>1.86%<\/td>\n<td>1.56%<\/td>\n<td>-0.30%<\/td>\n<\/tr>\n<tr>\n<td>Digital Commerce<\/td>\n<td>2.79%<\/td>\n<td>2.24%<\/td>\n<td>-0.55%<\/td>\n<\/tr>\n<tr>\n<td>SecureCode&nbsp;<\/td>\n<td>1.86%<\/td>\n<td>1.90%<\/td>\n<td>+0.04%<\/td>\n<\/tr>\n<tr>\n<td>Charity<\/td>\n<td>1.50%<\/td>\n<td>1.56%<\/td>\n<td>+0.06%<\/td>\n<\/tr>\n<tr>\n<td><strong><em>Muse Mastercard\u2122 (New Category)<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Card Present EMV<\/td>\n<td>N\/A<\/td>\n<td>1.65%<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<tr>\n<td>Unsecure Card Present&nbsp;<\/td>\n<td>N\/A<\/td>\n<td>1.95%<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<tr>\n<td>Digital Commerce<\/td>\n<td>N\/A<\/td>\n<td>2.39%<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<tr>\n<td>Contactless<\/td>\n<td>N\/A<\/td>\n<td>1.57%<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<tr>\n<td>SecureCode&nbsp;<\/td>\n<td>N\/A<\/td>\n<td>2.03%<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<tr>\n<td>Charity<\/td>\n<td>N\/A<\/td>\n<td>1.65%<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p><!-- \/wp:table --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>If you have any questions about the upcoming changes to interchange fees, please feel free to reach out to us at <a href=\"mailto:info@trc-parus.ru\">info@trc-parus.ru<\/a>. We would love to hear from you.&nbsp;<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p><br><\/p><p>______________________________________________________________________<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:heading --><\/p>\n<h2><strong><br><\/strong><\/h2><h2><strong>Mastercard Interchange Glossary&nbsp;<\/strong><\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p><strong>Card Present EMV<\/strong> &#8211; EMV Contact transactions. Must have Card Present and Cardholder Present.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p><strong>Contactless <\/strong>&#8211; Transactions initiated with a near-field-communication chip.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p><strong>Digital Commerce<\/strong> &#8211; eCommerce, Credential on File, Recurring Payments and DSRP transactions. Must have Card Not Present and Cardholder Not Present.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p><strong>SecureCode<\/strong> &#8211; MasterCard\u00ae SecureCode\u00ae \/ 3DS is a program supporting cardholder authentication and guaranteed payments over the Internet for MasterCard\u00ae and Maestro\u00ae transactions.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p><strong>Unsecure Card Present <\/strong>\u2013 Mag stripe transactions, Late Presentments of Card Present transactions.&nbsp;<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>(source: <a href=\"https:\/\/trc-parus.ru\/content\/dam\/mccom\/en-ca\/Documents\/English%20-%201-May-2020_Apr17.pdf\">MasterCard<\/a>)<\/p>\n<p><!-- \/wp:paragraph --><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Interchange is the fee collected by credit card issuers on every transaction. These interchange rates in Canada are set by Visa and MasterCard and are mandatory for all credit card processors.&nbsp;&nbsp; Changes in Canadian Interchange Fees Visa and MasterCard are changing their interchange fees starting on July 18, 2020 and August 1, 2020, respectively. The [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[31],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Visa and MasterCard Interchange Fees in Canada are Changing - Payment Processing<\/title>\n<meta name=\"description\" content=\"Interchange fees in Canada are changing. 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