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How Much Are Canadian Merchants Really Charged by Visa & MC?

With the Canadian Federal Competition Tribunal set to provide its ruling on whether merchants should be able to surcharge or not honor all Canadian credit cards, there seems to be quite a bit of misinformation regarding how much merchants are actually being charged for different types of credit cards. Here is our understanding of the latest interchange rates (%) being charged by Visa and Mastercard respectively,to the merchants, for different merchants categories and credit card types.

 

VISA (domestic)

Fee Program Classic, Gold, Platinum Infinite All other Commercial Credit Products
Grocery 1.36 1.56 1.85
Gas 1.21 1.41 1.80
Merchant > $2B volume 1.40 1.60 1.80
Merchant > $850M volume 1.45 1.65 1.85
Recurring Payments 1.40 1.60 1.85
Emerging Segments 1.00 1.20 1.80
Electronic 1.54 1.74 1.90
Standard (card not present, etc) 1.65 1.85 2.00

MasterCard (domestic)
Fee Program Core High Spend Premium High Spend (World, World Elite) All other Commercial Credit Products
Merchant with > $1B volume 1.40 1.60 2.00 2.00
Merchant with > $400M volume 1.45 1.65 2.00 2.00
Petroleum > $400M 1.21 1.41 2.00 2.00
Supermarket > $400M 1.36 1.56 2.00 2.00
All other electronic card present 1.59 2.00 2.25 2.00-2.25
All other (card not present, etc) 1.72 2.13 2.65 2.00-2.65

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