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Visa interchange fee restructure to be delayed

Wednesday 1 April 2020 10:43 CET | News

Visa has announced that due to the COVID-19 crisis will delay the rollout of the new interchange fee structure, implementing it in July instead of April.

According to Mobile PaymentsToday, Visa was planning an overhaul of its interchange fee structure that merchants pay to accept its cards, adjusting its fees for new businesses such as ride-hailing and other app-based services.

The company’s interchange fees will go up or down depending on the merchant and the way a consumer pays for their purchases. Therefore, ecommerce sites will face higher rates, while retailers in certain services categories, such as real estate and education, will see fees decline.

Besides, Visa’s transaction volumes fell in the second half of March 2020, facing a deterioration in cross-border travel-related spending.



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Keywords: coronavirus, Visa, interchange fee, merchants, cards, consumer, ecommerce, retailers, transactions , cross-border
Categories: Banking & Fintech | Cards
Countries: World
This article is part of category

Banking & Fintech