Both Visa and Mastercard Canada have lower interchange rates when transactions are marked as recurring by the payment processor.
Unfortunately, most merchants are not aware of these lower rates as the majority of Canadian payment processors simply pocket the difference. Most processors (not merchants) actually benefit from the lower Interchange rates – they still charge you (the merchant) the same processing fee as your normal transactions and pad their profits with the savings they should have passed on to you. At Helcim, we believe in building better relationships with our merchants by educating them on the industry and treating them fairly.
The table below shows a comparison between card-present (chip), manually keyed (online or e-commerce), and recurring transactions. As you can see, recurring transactions are lower than card-present transactions and significantly lower than keyed transactions.Visa Canada
Card TypeCard-PresentKeyedRecurringConsumer Card1.42%1.52%1.37%Infinite Card1.61%1.71%1.56%Corporate Card1.90%2.00%1.85%Privilege Card2.08%2.45%1.95%Mastercard Canada
Card TypeCard-PresentKeyedRecurringConsumer Card1.30%1.65%1.30%High-Spend Card1.42%2.29%1.42%Corporate Card2.00%2.00%2.00%Premium High-Spend Card1.86%2.79%1.86%
How Do You Qualify?
It’s easy, you simply process with Helcim. Any business processing scheduled transactions from repeat customers can benefit from the recurring Interchange rates, regardless of their industry. Whether you’re using our Helcim Recurring and Subscription Management features, or sending recurring transactions via the API, we automatically send the recurring transaction indicator to Visa and MasterCard. And because all of our merchants are on interchange plus pricing model, the savings from the lower processing costs are passed on to you in their entirety.
Visa and Mastercard do not have separate recurring interchange categories in the US and therefore standard “keyed” rates apply. That doesn’t mean you can’t save on credit card processing charges by switching to Helcim. First, we offer merchants the ability to process Level 2 and Level 3 data, which can drastically lower your processing fees. These data fields are already integrated with our recurring payment tools. Thanks to our interchange plus pricing, many of our merchants also enjoy significant savings compared to popular flat-rate processors.