Visa & MasterCard reduce their rates for merchants who accept credit cards

Visa & Master Card - Merchant Services - London Ontario and Windsor Ontario

What rate are you paying?  Starting in April 2015, Visa and Mastercard have both reduced their rates for all merchants who accept credit cards. This is a first-ever reduction in interchange fees to accept credit cards. Also, Visa and MasterCard have gone a step further by locking those rates for an additional five years. This is great news to merchants nationwide; however some processors or service providers are not passing the complete savings back to the merchant. We’ve come across hundreds of merchants who’ve only seen a fraction of the savings passed down to them. And merchants are not happy about it, and in most cases, didn’t even know such a reduction was given.

Our customers at Swift Payments don’t have to worry about these type of things. Swift Payments Cost+ Pricing (also known as interchange+ pricing) is the most transparent and cost effective billing method used in the industry today. The sad thing is that 95% of the merchant service providers out there don't use this method. Cost+ Pricing is a pricing platform that is fully transparent and signifies true savings. When you the merchant, process a transaction, the interchange cost is passed directly to you. Interchange is the direct cost from Visa and MasterCard. Every Merchant Service Provider in the industry receives Visa and MasterCard at the same cost price (interchange).

Both Visa and MasterCard emphasized that merchant acquirers must pass the interchange rate reductions onto merchants in order for the reductions to achieve their purpose. Visa indicated that it supports an amendment to the Code of Conduct for the Credit and Debit Industry which would require merchant acquirers to reduce their merchant discount rates by at least the same amount as the interchange rate reductions.

With Visa and MasterCard announcing general rate reductions, MasterCard also announced a lower rate category for independent businesses in several sectors. MasterCard has set up an independent business rate category for firms in 25 business sectors (including taxis, hardware stores, lawn/garden supplies, variety stores, bakeries, misc food stores, alterations/tailors, eating places, restaurants, drug stores, book stores, news dealers, pet shops, drycleaners, barber/beauty shops, shoe repair/shine, car washes) who will qualify for even lower rates.

For more information about rate reductions or services, please feel free to contact us at anytime. Also ask about our no obligation, free cost analysis.


For further information, please contact
Mike Halbouni – Director of Operations

Tel:  1-855-625-2791 ext 101

Email: info@Swift

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