Visa, MasterCard and Discover Card are making changes to the Canadian Interchange rates for Spring 2018. MasterCard is adding a small fee on ecommerce transactions, Discover Card is updating their Swipe and Recurring Interchange Rates, and Visa is reducing the cost of accepting corporate cards at grocery stores and gas stations. Below is a breakdown of those changes.

While these changes are minimal, the Canadian Code of Conduct allows merchants to cancel their account without penalty anytime a rate change is announced. If you've been stuck in a merchant account contract with your current processor, these changes allow you to cancel that contract without penalties! Visa and MasterCard Interchange adjustments are a great opporunity to review your pricing and consider switching to Helcim and our Cost+ pricing.

Contact us today and learn how we can save you on credit card processing fees.


MasterCard Canada

Card Type Old Rate New Rate
MC ACQ DIGITIAL COMM DEVELOPMENT (credit) - - 0.0226% $0.00
MD ACQ DIGITIAL COMM DEVELOPMENT (debit) - - 0.0226% $0.00


Discover Card Canada

Card Type Old Rate New Rate
Swipe Consumer -> Swipe Rewards 1.60% $0.00 1.45% $0.00
Swipe Premium 1.98% $0.00 2.05% $0.00
Swipe Premium Plus 2.25% $0.00 1.80% $0.00
Swipe Commercial 2.25% $0.00 2.00% $0.00
Recurring Consumer -> Swipe Rewards 1.45% $0.00 1.37% $0.00
Recurring Premium 1.70% $0.00 1.60% $0.00
Recurring Premium Plus 2.10% $0.00 2.05% $0.00
Recurring Commercial 2.20% $0.00 2.00% $0.00


VISA Canada

Card Type Old Rate New Rate
Gas and Service Stations Corporate 1.90% $0.00 1.80% $0.00
Groceries and Supermarkets Corporate 1.90% $0.00 1.85% $0.00

 

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