Card schemes determine interchange fees and are non-negotiable. They are also regularly adjusted. For example, Visa and Mastercard publish new rates in April and October every year.

The alternative to Interchange++ is Blended pricing. The Blended model charges an average processing cost plus a fixed markup. You're charged the same markup for every transaction, and you can't see the split of the costs.

In this article, we’ll walk you through the factors that impact interchange fees, where you can find the most up-to-date interchange rates, and the regulations that exist to ensure you’re paying a fair price.

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Interchange++ (or Interchange Plus Plus) and Blended are the most widely used pricing models for card transactions. The main difference between the two is transparency.

The most accurate and up-to-date way to find the current rates is to check the card scheme’s website. Below you can find the interchange rates for Visa and Mastercard in different regions:

Some card networks, including American Express and Discover, work slightly differently to Visa and Mastercard and don’t publish their rates online.

Markets dominated by the large international card schemes were most vulnerable. Businesses couldn't afford to refuse the payment methods most of their customers used.

Your assigned MCC can affect your interchange fees. For example, in the US and Australia, Visa and Mastercard grant lower rates to businesses like charities, travel agents, streaming services, and utilities.

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Card-present (CP) transactions, also known as face-to-face transactions, have lower interchange fees than card-not-present (CNP) transactions. This is because the risk of fraud is lower when the customer’s card is physically present.

Many factors influence the interchange fee amount. Here are the key ones to be aware of and how they affect the amount you're charged:

Credit and deferred debit cards have higher interchange fees than immediate debit and prepaid cards as the level of risk is considered higher.

Different card schemes charge different interchange rates. So the cost of a customer paying with a Visa card won't be the same as with a Mastercard.

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Since the UK’s withdrawal from the EU, the EEA fee caps no longer apply for transactions when an EEA-issued card is used to pay at a merchant located in the UK or when a UK-issued card is used to pay at a merchant located in the EEA.

The European Economic Area (EEA) introduced interchange fee regulations in 2015. This led to heavy interchange fee regulations where interchange fees are capped for consumer cards in all countries within the EEA region. As a result, the EEA is now one of the cheapest options worldwide and is considered an excellent place to set up entities for cross-border transactions.

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You only pay the interchange fee the card issuer actually charged you. As interchange fees vary depending on many factors, they can sometimes be lower than a fixed rate.

After every credit or debit card transaction, businesses need to pay an interchange fee, also known as an interchange reimbursement fee or interchange rate. Many variables can affect the fee amount, and it can be difficult to determine how much the charges will be.

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Domestic transactions, where the card-issuing bank is in the same country as the business, are generally cheaper than cross-border transactions.

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Interchange++ shows you a detailed breakdown of the three payment card costs mentioned earlier: the acquirer markup, card scheme fee, and interchange fee.

Confused by how interchange fees are calculated? Learn how interchange rates work for different credit and debit cards and how they vary from country to country.

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Lowering your interchange fees may not result in more profit. By limiting your customers' choices, you could deter them from purchasing from your business.

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The interregional caps, however, still apply for transactions at merchants located in the EEA and the UK. The EEA and UK interregional fee caps for card-present transactions are 0.20% for debit transactions and 0.30% for credit transactions. For card-not-present transactions, the fee caps are 1.15% for debit transactions and 1.50% for credit transactions.

If a customer uses a rewards card to pay, the interchange fees are generally higher. This is because the increased fees pay for the extras offered by rewards programs.

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Traditionally, there was very little transparency into how interchange fees were calculated. Large businesses with a high volume of transactions could negotiate lower fees, while smaller firms had to pay the full amount.

Fortunately, recent progress has been made to standardize interchange fees, with stricter rules and fee caps introduced, and overall transparency increased.

The Durbin amendment is dependent on the size of the issuing bank's assets. If the issuing bank has assets of $10bn or more, its debit and prepaid cards will be charged regulated rates. These cards are then subject to an interchange rate of 0.05% + $0.21 or 0.05% + $0.22, depending on fraud prevention policies.

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Every time a transaction is made via a card scheme (Visa, Mastercard, etc.), the acquirer pays the cardholder’s bank an interchange fee. The business then pays the interchange fee back as part of its card processing fees.

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Some of the factors above you can influence, but others you can't change. For instance, if you convinced your customers to buy more in-store than online, you could reduce your interchange fees.

This makes it easy to understand, but intransparent. And there's no guarantee your processor will share any savings with you made from lower interchange fees.

When it comes to your MCC, however, you have no control. Your MCC is assigned to you and is dependent on the type of business you have.