When a transaction is made on a Visa Debit or Credit Card, the bank that processes that transaction for the merchant pays a fee to the bank that issued the card. This fee is called an interchange fee. As an issuer of Visa cards the following interchange fees apply to 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

Strategic Merchant MVV - Card not present

0.65% + NZD 0.05

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.

Account funding transactions (AFT)

An AFT is a VisaNet transaction that pulls funds from a Visa card account for the purpose of funding a different, non-merchant account, such as prepaid card accounts, financial accounts, P2P accounts, or digital wallets.

Interchange fee program

Interchange rate

Credit AFT - Visa Classic

1.25%

Credit AFT - Visa Platinum

1.85%

Credit AFT - Visa Business

2.00%

Strategic Merchant AFT - Consumer Debit

0.30% capped at NZD 0.50

Debit AFT - Consumer Debit

1.10%

Note: All fees are assessed as a percentage of the transaction amount, unless otherwise stated.

For further information please visit the Visa website.