Find out what interchange is and the value it delivers
The benefits that interchange delivers to all parties
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Consumers derive significant value from electronic payments including convenience and safety when they make a purchase, increased opportunity for financial inclusion, access to rewards or incentives and the choice of thousands of debit, credit and prepaid payment products.
Merchants benefit from guaranteed payment; increased sales; fraud protection; lower processing costs than those associated with other forms of payment such as checks and cash; and the ability to attract and retain customers with a fast, efficient buying experience.
Interchange helps card Issuers cover the eligible costs they incur, including processing and authorisation, fraud and fraud protection, and it funds new payment technologies. For example, interchange funds innovations in payment technologies like Tap and go™, which better facilitate transactions and improve customer service.
Governments experience significant efficiencies and promote financial inclusion for their citizens when they choose to distribute social benefits and other programs via electronic payments.
Electronic payments are often the point of entry for new consumers to a formal financial ecosystem. By incentivising issuers to create innovative payment programs, interchange helps encourage financial inclusion for consumers who could not otherwise participate.
Effective May 1, 2019 the maximum interchange fees to be applied to Mastercard purchase transactions in New Zealand where the card issuer and merchant acquirer are both New Zealand residents will be as follows.
All issuers of Mastercard cards in New Zealand have notified Mastercard that they wish for the Mastercard maximum rate to be applied to all transactions. For further information relating to each issuer’s interchange fees please click below.
Mastercard reserves the right to change these fees as it deems appropriate from time to time. Any such changes to these fees will be published on this site as required by the Standard.
Enquiries regarding interchange fees should be directed to Mastercard Worldwide at +64 9377 5026.