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Visa to Increase Interchange Fees for CNP Transactions this April

After leaving interchange rates mostly unchanged for the past decade, Visa sent a letter to partner banks outlining the coming changes to swipe fees that will roll out in two phases beginning in April then October this year. While high volume supermarkets as well as those with education and real estate merchant category codes (MCCs) will see a decline, eCommerce retailers will see base interchange rates increase from 1.90 to 1.99 percent on standard Visa rewards cards and from 2.5 to 2.6 percent on premium rewards cards for a $100 transaction.

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