Visa and MasterCard Increase Rates…Again
In what seems like an annual ritual, Visa and MasterCard have raised rates effective April 1st, 2023 .
Visa made relatively few changes to their Interchange levels. Only a few minor increases to several corporate card categories were made. On the other hand, MasterCard made many changes to key Interchange categories. This includes their Merit III category which affects standard credit cards in a swiped environment. They also changed how their quick serve cards are handled.
The expected increase to be passed along to merchants is 2 to 3 basis points (.02% – .03%).