Mastercard has announced reductions to Canada region interchange rates for Digital Commerce and Standard programs, effective August 1, 2021. The following details both the current and new Mastercard consumer credit interchange rates for Digital Commerce and Standard programs:
|
|
Core |
World |
World Elite |
Muse |
||||
|
|
Current |
New |
Current |
New |
Current |
New |
Current |
New |
|
Digital Commerce |
1.76% |
1.67% |
2.00% |
1.90% |
2.24% |
2.13% |
2.39% |
2.25% |
|
Standard |
2.06% |
1.96% |
2.30% |
2.19% |
2.54% |
2.42% |
2.69% |
2.54% |
Mastercard is life cycling 15 interregional consumer IRDs (IRD 24, 73Am, 83, 75, 85, 95, 79, EE, EF, EM, ES, PE, PF, PM, PS) and creating 9 new interregional consumer IRDs (YA, YB, YC, YD, YE, YF, YG, YH, YI).
This initiative will simplify and enhance the interregional interchange structure; we do not anticipate an impact to your overall processing costs.
The following details each new IRD and applicable rates:
|
IRD |
IRD Description |
Product |
Rate |
|
YA |
Interregional Consumer Rate I—Digital Commerce |
Core |
1.60% |
|
YB |
Interregional Consumer Rate I—Digital Commerce |
Premium |
1.85% |
|
YC |
Interregional Consumer Rate I—Digital Commerce |
Super Premium |
1.98% |
|
YD |
Interregional Consumer Rate II—Card Present |
Core |
1.10% |
|
YE |
Interregional Consumer Rate II—Card Present |
Premium |
1.85% |
|
YF |
Interregional Consumer Rate II—Card Present |
Super Premium |
1.98% |
|
YG |
Interregional Consumer Rate III—Base |
Core |
1.60% |
|
YH |
Interregional Consumer Rate III—Base |
Premium |
1.85% |
|
YI |
Interregional Consumer Rate III—Base |
Super Premium |
1.98% |
Visa will implement changes to select domestic consumer credit interchange rate categories. The following table lists the current domestic interchange rates, and those that will take effect October 16, 2021:
|
Visa Core Products |
Visa Infinite Products |
||||
|
Rate Program |
Current |
New |
Current |
New |
|
|
Everyday Needs |
1.20% |
1.10% |
1.30% |
1.20% |
|
|
Grocery and Food Retail |
1.00% |
0.95% |
1.20% |
1.15% |
|
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