Interchange Plus is a pricing option available for merchant customers with eligible credit accepting facilities. It allows interchange fee changes made by the card scheme providers: Visa, Mastercard and/or UnionPay to be automatically passed on to merchant customers.
In November 2022, the Retail Payment Systems Act, will take effect and require domestic card interchange fees to be reduced by some scheme providers (e.g. Visa, Mastercard). The Interchange Plus pricing option ensures these cost reductions are automatically applied to the monthly Merchant Service Fee (MSF) allowing customers to receive any reduced fee from the moment the changes take effect.