The interchange fee is the fee that's paid to the bank that has issued a customer's card. It's set by the card scheme provider, i.e. Mastercard® or Visa. We're an issuer of Visa and Mastercard® and charge the following fees on transactions made in New Zealand.

Visa

For transactions conducted in New Zealand on Kiwibank issued Visa cards.

Visa New Zealand national net maximum credit interchange reimbursement fees

Fee category

Visa Classic

Visa Platinum

Industry Program - Charities

0.39%

0.39%

Strategic Merchants – Card Present (CP) and Card Not Present (CNP) – Rate 1

0.50%

0.50%

Strategic Merchants – CP and CNP – Rate 2

0.55%

0.55%

Strategic Merchants – CP and CNP – Rate 3

0.60%

0.60%

Strategic Merchants – CP and CNP – Rate 4

0.70%

0.70%

Strategic Merchants – CP and CNP – Rate 5

0.80%

0.80%

Strategic Merchants – CP and CNP – Rate 6

0.98%

0.98%

Industry Program – Government, Utilities & Telecom

NZ$0.70

NZ$0.70

Industry Program - Insurance

NZ$1.00

NZ$1.00

Industry Program – Recurring Payments

0.70%

0.70%

Contactless*

0.85%

1.45%

Contactless from August 15 2020

0.65%

1.25%

Electronic

0.85%

1.85%

Standard

1.25%

1.85%

*Contactless fee program applies to any transaction amount.

Visa New Zealand national net maximum debit interchange reimbursement fees**

Fee category

Interchange rate

Industry Program – Charities

0.39%

Strategic Merchants – Card Present – Rate 1 ***

NZ$0.02

Strategic Merchants – Card Present – Rate 2 ***

NZ$0.03

Strategic Merchants – Card Present – Rate 3

NZ$0.04

Strategic Merchants – Card Present – Rate 4

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%

Electronic - Card Present from August 15 2020

0.20%

Standard - Card Not Present

1.10%

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

*** The above SMRs are intended for merchants designated by Visa to be strategic, in which they meet certain criteria, including innovation and/or acceptance requirements (Strategic Program Criteria). Specifically, SMR—Card-Present Rate 1 is reserved for merchants that meet the Strategic Program Criteria and have approximately 85% of volume under NZD 15. Meanwhile, SMR—Card-Present Rate 2 is reserved for merchants that meet the Strategic Program Criteria and have significant volume processed through VisaNet.Visa New Zealand National Net Maximum Prepaid Interchange Reimbursement Fees.

Mastercard®

For transactions conducted in New Zealand on Kiwibank issued Mastercard® cards.

Mastercard® Credit Cards

Fee category

Interchange rate

Charities

0.00%

Strategic Merchants 1

0.50%

Strategic Merchants 2

0.60%

Strategic Merchants 3

0.70%

Strategic Merchants 4

1.10%

Strategic Merchants 5

1.50%

Contactless (excluding Commercial Cards)

0.50%

Government and Utilities

0.70%

Petroleum

0.60%

Education and Learning

0.80%

Recurring payments

0.90%

Consumer premium

1.90%

Commercial

2.10%

Consumer electronic

0.90%

Consumer standard

1.65%