Interchange

Visa New Zealand Domestic Maximum Interchange Reimbursement Fees

The following tables set forth the Visa maximum interchange reimbursement fees applicable to New Zealand domestic transactions processed through Visa’s National Net Settlement Service. The rates are effective 7 November 2015 and are paid by the acquirer to the issuer on purchase transactions.

Visa uses interchange reimbursement fees as transfer fees between issuers and acquirers to balance and grow the payment system for the benefit of all participants. Merchants do not pay interchange reimbursement fees; merchants pay a "merchant discount fee" to their acquirer. This is an important distinction, because merchants buy a variety of processing services from financial institutions; all of these services may be included in their merchant discount rate.

Please note that there are specific technical and other criteria that each transaction must meet in order to qualify for the different rate categories. Transactions which do not meet the processing criteria for a specific program will not be subject to that maximum rate, but instead will be subject to the Standard interchange maximum rate.


Visa New Zealand National Net Maximum Credit Interchange Reimbursement Fees 

 Industry Program – Charities 0.39%
 Strategic Merchants – Card Present (CP) and Card Not
 Present (CNP) – Rate 1
0.50%
 Strategic Merchants – CP and CNP – Rate 2 0.55%
 Strategic Merchants – CP and CNP – Rate 3 0.60%
 Strategic Merchants – CP and CNP – Rate 4 0.70%
 Strategic Merchants – CP and CNP – Rate 5 0.80%
 Strategic Merchants – CP and CNP – Rate 6 0.98%
 Industry Program – Government, Utilities & Telecom NZ$0.70
 Industry Program – Insurance NZ$1.00
 Industry Program – Recurring Payments 0.70%
 Electronic 0.85% 2.10% 2.30% 2.00%
 Standard 1.25%

Visa New Zealand National Net Maximum Debit Interchange Reimbursement Fees*

 Fee Program Visa Consumer Visa Commerical
 Industry Program – Charities 0.39%
 Strategic Merchants – Card Present – Rate 1 NZ$0.04
 Strategic Merchants – Card Present – Rate 2 NZ$0.05
 Strategic Merchants – Card Not Present – Rate 1 0.50%
 Strategic Merchants – Card Not Present – Rate 2 0.55%
 Strategic Merchants – Card Not Present – Rate 3 0.60%
 Strategic Merchants – Card Not Present – Rate 4 0.70%
 Strategic Merchants – Card Not Present – Rate 5 0.80%
 Strategic Merchants – Card Not Present – Rate 6 0.98%
 Industry Program – Government, Utilities & Telecom NZ$0.70
 Industry Program – Insurance NZ$1.00
 Industry Program – Recurring Payments 0.70%
 Electronic – Card Present 0.30%
 Standard – Card Not Present 1.25% 2.00%

* Excludes EFTPOS transactions (defined as face-to-face card present transactions utilizing account selection and PIN) switched domestically to issuer

Visa New Zealand National Net Maximum Prepaid Interchange Reimbursement Fees

 Fee Program Visa Consumer Visa Commerical
 Industry Program – Charities 0.39%
 Strategic Merchants – Card Present 0.39%
 Strategic Merchants – Card Not Present – Rate 1 0.50%
 Strategic Merchants – Card Not Present – Rate 2 0.55%
 Strategic Merchants – Card Not Present – Rate 3 0.60%
 Strategic Merchants – Card Not Present – Rate 4 0.70%
 Strategic Merchants – Card Not Present – Rate 5 0.80%
 Strategic Merchants – Card Not Present – Rate 6 0.98%
 Industry Program – Government, Utilities & Telecom NZ$0.70
 Industry Program – Insurance NZ$1.00
 Industry Program – Recurring Payments 0.70%
 Electronic – Card Present 0.60% 2.00%
 Standard – Card Not Present 1.25%

New Zealand Issuer Domestic Interchange Rates

The domestic interchange rates of New Zealand issuers can be found at the following links:

  • ANZ
  • GE
  • ASB
  • ICBC
  • BNZ
  • Kiwibank
  • Bank of Baroda
  • TSB
  • Citibank
  • Westpac New Zealand