When a transaction is made on a Visa or Mastercard® credit card, the bank that processes that transaction for the merchant pays a fee to the bank that issued the credit card. This fee is called an interchange fee. As an issuer of Visa and Mastercard credit cards the following interchange fees apply to transactions made in New Zealand.
For transactions conducted in New Zealand on Kiwibank issued Visa cards.
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.
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.
For transactions conducted in New Zealand on Kiwibank issued Mastercard® 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% |