2023 Interchange Credit Card Rates Update

Attention all Restaurant Merchants: In Fall of 2023, there will be updates on all systems to reflect changes to Visa and Mastercard interchange programs and fees. These items will impact your compensation on a pass-through basis.

We've posted the details of the October association updates from Clearent's Interchange Landing Page, which you can review at any time. A summary of current rates for all card brands and debit networks can be found in the Interchange Rate Table.

Visa

Digital Commerce Services Fee

Effective October 1, 2023, Visa will introduce a Digital Commerce Services fee in the U.S. to help support the management, development and improvement of Visa services that enhance CNP transaction capabilities and improve ecosystem performance. A fee of 0.75 basis points (0.0075%) will be assessed on CNP settled transactions, with a minimum of $0.0075 per transaction. This fee will be reflected starting with October merchant statements.

Interchange Program Rates Modified

Visa will modify the interchange rates for certain consumer credit CPS-qualified transactions on Infinite cards. You may want to revisit your current pricing structure. In many states, surcharging is also now possible. At QRA, we always aim to make sure to provide up-to-date important information and solutions.