Interchange principles and fees
Discover the most important information about interchange fees. Learn more about their purpose, rates and principles.
Interchange fee principles
eftpos believes that interchange fees should be set in a way that is transparent and reflects the interests of all stakeholders. Accordingly, on 20 September 2010 it adopted the following interchange fee principles:
Principle 1 – Compliance with the standard
The Company’s interchange fee regime will comply with the terms and spirit of the eftpos Interchange Fee Standard published by the RBA.
Principle 2 – Competitive positioning and success of eftpos
The Company’s interchange fee regime will further the competitive position and success of eftpos and, in particular, it will:
- promote usage, issuance and acceptance of eftpos;
- take into consideration the competitive landscape to
- ensure eftpos is not placed at an economic disadvantage to other payment products; and strive to achieve:
- net costs of acceptance that are below competitive products for all merchants;
- net costs of issuance that are below competitive products for all issuers; and
- an environment that encourages innovation, efficiency and investment in eftpos; and
- review its interchange fee regime at regular intervals (at least annually) in light of relevant developments.
Principle 3 – Simplicity and transparency
The Company’s interchange fee regime will be simple and transparent in terms of both process and output.
Principle 4 – Fairness
The Company’s interchange fee regime will be fair and balance the long term needs of the Company.
Principle 5 – Governance and consultation
- In developing its interchange fee regime the Company will consult with all Members in an open and transparent manner.
- The success of eftpos as a whole will be the paramount consideration in the Company’s deliberations.
Interchange rates
Interchange fees are payable between the retailer (known as a self-Acquirer) or the retailers’ financial institution (known as the Acquirer) and the cardholder’s bank or financial institution (known as the Issuer).
These rates:
- Create a simple regime to underpin and strengthen eftpos’ competitiveness, and
- Support investment in key enhancements to eftpos products.
The rates support initiatives designed to:
- Increase eftpos functionality, and
- Enhance digital payments security.
Schedule of interchange rates
The following Multilateral Interchange rates are prescribed by eftpos pursuant to Clause 33 of the Scheme Rules from the 1st September 2022.
| Categories | eftpos Proprietary (Ex GST) | eftpos Priority 2 (Ex GST) | eftpos Priority 1 (Ex GST) | eftpos Prepaid (Ex GST) | Definition |
|---|---|---|---|---|---|
| Charity | $0.000 | $0.000 | $0.000 | $0.000 | All transactions performed at a Merchant that is endorsed by the Australian Taxation Office as a charitable fund, Charitable Institution of Public Benevolent Fund. |
| Medicare Easyclaim Refund | $0.000 | $0.000 | $0.000 | $0.000 | All Medicare Easyclaim Refund transactions. |
| Package Rate Categories · Gold · Silver | N/A N/A | $0.020 $0.030 | N/A N/A | N/A N/A | Purchase transactions using eftpos Form Factors at point of sale for Merchants or merchant groups that meet the criteria. |
| Differential Rate Categories · DIFR Category 1 · DIFR Category 2 · DIFR Category 3 · DIFR Category 4 | $0.015 $0.030 $0.045 $0.060 | $0.010 $0.020 $0.030 $0.040 | $0.020 $0.040 $0.060 $0.080 | $0.020 $0.040 $0.060 $0.080 | Purchase transactions using eftpos Form Factors at point of sale or Digital for Merchants or merchant Groups that meet the criteria. |
| Digital Early Adopter Program · Digital - Card Not Present | N/A | $0.060 | N/A | N/A | Purchase transactions using eftpos Form Factors at Digital for Merchants or merchant groups that meet the criteria. |
| Other Categories · In Store · Digital - Mobile · Digital - Card Not Present | $0.080 N/A N/A | $0.040 $0.100 0.150% | $0.100 $0.100 0.150% | $0.100 $0.100 0.150% | Purchase transactions using eftpos Form Factors at point of sale or Digital that are not assigned to a different Interchange category. |
| Purchase with Cash-out · DIFR Category 1 - Cash-out · DIFR Category 2 - Cash-out · DIFR Category 1 & 2 - Purchase · Standard - Cash-out · Standard - Purchase | -$0.200 -$0.165 $0.020 $0.000 $0.020 | -$0.200 -$0.165 $0.020 $0.000 $0.020 | -$0.200 -$0.165 $0.020 $0.000 $0.020 | -$0.200 -$0.165 $0.020 $0.000 $0.020 | Purchase with Cash-out transactions. |
| Cash-out Only · DIFR Category 1 · DIFR Category 2 · Standard | -$0.165 -$0.100 $0.000 | -$0.165 -$0.100 $0.000 | -$0.165 -$0.100 $0.000 | -$0.165 -$0.100 $0.000 | Cash-out Only transactions. |
| Transfers | $0.045 | $0.045 | $0.045 | $0.045 | Withdrawal or Deposit transactions used to debit or credit funds to or from the account of an eftpos Consumers’ account, other than a Cash-out, Purchase, Purchase with Cash-out or in the process of returning good or services. |
| Categories | Multi Network Debit Card (Ex GST) | Multi Network Debit in-store mobile (Ex GST) | Definition | ||
|---|---|---|---|---|---|
| Strategic rate categories · Strategic Rate 1 | $0.020 | $0.020 | N/A | N/A | Purchase transactions using eftpos Form Factors at point of sale for Merchants or merchant groups that meet the criteria. |
| · Strategic Rate 2 | $0.030 | N/A | N/A | N/A | Purchase transactions using eftpos Form Factors at Digital for Merchants or merchant groups that meet the criteria. |
| Categories | Standard | DIFR 1 | DIFR 2 | DIFR 3 | Strategic Rate 1 | Strategic Rate 2 |
|---|---|---|---|---|---|---|
| Dual Network Debit Cards | ||||||
| Charity | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 |
| Medicare Easyclaim Refund | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 |
| In-Store Card <= $10 > $10 | $0.01 $0.04 | $0.01 $0.01 | $0.01 $0.02 | $0.01 $0.03 | $0.02 $0.02 | N/A N/A |
| In-Store Mobile (Tokenised Contactless) <= $10 > $10 | $0.02 $0.07 | $0.01 $0.01 | $0.01 $0.04 | $0.02 $0.06 | $0.02 $0.02 | N/A N/A |
| Card Not Present <= $100 > $100 Recurring | $0.10 0.12% $0.06 | $0.01 $0.01 $0.01 | $0.10 $0.10 $0.03 | $0.10 $0.10 $0.05 | N/A N/A N/A | $0.03 $0.03 $0.03 |
| Card Not Present (eftpos 3DS or Tokenised) <= $5 $5 <= $100 > $100 Recurring > $5 | $0.005 $0.04 0.10% $0.04 | $0.005 $0.01 $0.01 $0.01 | $0.005 $0.01 $0.02 $0.02 | $0.005 $0.02 $0.06 $0.03 | N/A N/A N/A N/A | $0.03 $0.03 $0.03 $0.03 |
| Purchase with Cash Out Cash-out portion Purchase portion | $0.00 $0.04 | -$0.20 $0.01 | -$0.165 $0.02 | $0.00 $0.03 | $0.00 $0.02 | N/A N/A |
| Cash Out Only | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | N/A |
| Transfers | $0.045 | $0.045 | $0.045 | $0.045 | $0.045 | $0.045 |
| Single Network Debit Cards | ||||||
|---|---|---|---|---|---|---|
| Charity | $0.00 | $0.00 | $0.00 | $0.00 | N/A | N/A |
| Medicare EasyClaim Refund | $0.00 | $0.00 | $0.00 | $0.00 | N/A | N/A |
| In-Store Card · <= $10 · > $10 | $0.05 $0.10 | $0.01 $0.01 | $0.02 $0.04 | $0.03 $0.06 | N/A N/A | N/A N/A |
| In-Store Mobile (Tokenised Contactless) · <= $10 · > $10 | $0.05 $0.10 | $0.01 $0.01 | $0.02 $0.04 | $0.03 $0.06 | N/A N/A | N/A N/A |
| Purchase with Cash Out · Cash-out portion · Purchase portion | $0.00 $0.10 | -$0.20 $0.01 | -$0.165 $0.04 | $0.00 $0.06 | N/A N/A | N/A N/A |
| Cash Out Only | $0.00 | $0.00 | $0.00 | $0.00 | N/A | N/A |
| Transfer | $0.045 | $0.045 | $0.045 | $0.045 | $0.045 | $0.045 |
| Prepaid Cards | ||||||
|---|---|---|---|---|---|---|
| Charity | $0.00 | $0.00 | $0.00 | $0.00 | N/A | N/A |
| Medicare EasyClaim Refund | $0.00 | $0.00 | $0.00 | $0.00 | N/A | N/A |
| In-Store Card · <= $10 · > $10 | $0.05 $0.10 | $0.01 $0.01 | $0.02 $0.04 | $0.03 $0.06 | N/A N/A | N/A N/A |
| In-Store Mobile (Tokenised Contactless) · <= $10 · > $10 | $0.05 $0.10 | $0.01 $0.01 | $0.02 $0.04 | $0.03 $0.06 | N/A N/A | N/A N/A |
| Card Not Present · <= $100 · > $100 | $0.10 0.12% | $0.01 $0.01 | $0.10 $0.10 | $0.10 $0.10 | N/A N/A | N/A N/A |
| Card Not Present (eftpos 3DS or Tokenised) · <= $5 · $5 <= $100 · > $100 · Recurring > $5 | $0.005 $0.04 0.10% $0.04 | $0.005 $0.01 $0.01 $0.01 | $0.005 $0.02 $0.05 $0.02 | $0.005 $0.03 $0.08 $0.03 | N/A N/A N/A N/A | N/A N/A N/A N/A |
| Purchase with Cash Out · Cash-out portion · Purchase portion | $0.00 $0.10 | -$0.20 $0.02 | -$0.165 $0.04 | $0.00 $0.06 | N/A N/A | N/A N/A |
| Cash Out Only | $0.00 | $0.00 | $0.00 | $0.00 | N/A | N/A |
| Transfer | $0.045 | $0.045 | $0.045 | $0.045 | $0.045 | $0.045 |
Notes:
- Capitalised terms used in the definitions are defined in the eftpos Scheme Rules if not listed below.
- eftpos Proprietary is considered Single Network Debit Cards for interchange setting.
- Interchange Fees are not payable for Refunds and Declines.
- Electronic and Paper Fallback transactions attract an Interchange Fee at the applicable Purchase rate.
- Digital transaction – A transaction performed using a Merchant website or mobile application, rather than at a Point Of Sale terminal.
- Purchase transaction – Within the Differential Rate categories, Purchase transaction refers to all channels including Transfer transactions and card types.
- Cash-out – has the meaning in the rules and for clarity is a transaction where the cardholder receives cash (Australian notes or coins) from a merchant, either as a standalone transaction, or combined with the purchase of goods or services.
- eftpos Priority 2 is where eftpos is position 2 on the chipset on a multi-network card.
- eftpos Priority 1 is where eftpos is position 1 on the chipset on a multi-network card or a mobile device transaction.
AP+ acknowledges the Gadigal People of the Eora nation as the Traditional Custodians of the lands on which we are based and pays our respects to Elders past, present and emerging. We recognise all Aboriginal and Torres Strait islander peoples ongoing connection to the lands and waters of Australia and thank them for protecting and for their pivotal role in the creation of this beautiful place. Always was and always will be Aboriginal Land.
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