Westpac MasterCard domestic interchange fees


MasterCard domestic New Zealand interchange fees applying to New Zealand domestic retail purchase transactions using Westpac issued MasterCard cards. EFTPOS Solutions enquiry form

What is an interchange fee?

Interchange is the fee that the merchant's bank (the "Acquirer") pays to the issuers of MasterCard cards for transactions accepted at the merchant facility where a MasterCard card has been used (except where the transaction results from the presentation of a New Zealand issued MasterCard debit card at a New Zealand EFTPOS terminal). This is a variable fee depending on the nature of the transaction, card type and processing environment for the transaction.

The interchange fee can be calculated as a percentage of the transaction value, or set as a fixed dollar amount.

Domestic interchange fees

The following interchange fees apply to New Zealand domestic retail purchase transactions* where a Westpac New Zealand issued MasterCard card is used (and including transactions where Westpac is the Acquirer) for the period 17 April 2011 until amended.

*A domestic retail purchase transaction is one where the Acquirer and Issuer of the card that is used are both located in New Zealand.

Consumer Credit and Commercial Products


Fee programme	Rate

Charities	0.00%

Strategic Merchant 1	0.65%

Strategic Merchant 2	0.75%

Strategic Merchant 3	0.85%

Utilities	0.70%

Petroleum	0.70%

Education	0.80%

Recurring Payments	0.70%

Secure Code Merchants	0.95%

Secure Code - Full UCAF	1.05%

Commercial	2.00%

Consumer Super Premium	2.00%

Consumer Electronic	0.88%

Consumer Standard	1.25%


Notes:

	There are specific technical and processing criteria that each transaction must meet in order to qualify for the different fee categories. Your acquiring bank will be able to advise which interchange fees are applicable to your facility.
	Where a transaction might qualify for more than one fee programme, the hierarchy, which is set out above and which is pre-defined by the card scheme, will determine which fee will apply.
	A listing of MasterCard standard fees and further information on the interchange fee is available on the MasterCard website.

Participation in a Westpac Merchant Credit Card Facility Agreement (and amendment of October 2009) to process credit card transactions, is subject to Westpac’s approval.
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Westpac MasterCard domestic interchange fees