News

Visa and Mastercard Raising Merchant Rates

Order Reprints
credit card.jpg

Jan. 12, 2022—Visa and Mastercard have plans to raise merchant rates up to an additional 0.5 percent starting in April 2022, Facepay announced in an industry advisory. 

Visa and Mastercard, which make one-third of their revenue from interchange fees, originally announced that fees would increase in 2020. The pandemic delayed the rate increase until this spring.

Bloomberg pulled some of the early data to estimate the impact, reporting that interchange fees will increase by 0.5 percent. For a traditional Visa card, the fee on a $100 transaction would climb to $1.99 from $1.90. For premium Visa cards, the fee would increase to $2.60 from $2.50.” While Visa and Mastercard increased their fees by 0.5 percent, expect the merchant fees you pay processors and point of sale systems to impact profits by 15 to 25 percent.

Related Articles

Take 5 Raising Funds for Texas Hospital

Jiffy Lube Raising Funds for Sturgeon Victim Services

VIOC Raising Money for American Cancer Society

You must login or register in order to post a comment.