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Canadian interchange rates for Visa and MasterCard in credit card processing
Interchange is the fee collected by the credit card brand and issuer on every credit card transaction. Merchants pay interchange fees. These interchange rates in Canada are set by Visa and Mastercard and are mandatory for all credit card processors. The tables below have a breakdown of the current Visa and Mastercard interchange rates in Canada. When you work with Clearly Payments, we help ensure you get the best interchange rates applied to your business.
A card present (CP) transaction is when you have the credit card and buyer in front of you, in person (i.e. payment terminals). Card present interchange rates tend to be lower because in-person transactions are considered lower risk transactions.
| Card Type | Canada Visa Interchange Rates | Canada Mastercard Interchange Rates |
|---|---|---|
| Swipe/Chip Consumer | 1.250 % | 0.920 % |
Swipe/Chip Infinite/High-Spend | 1.570 % | 1.220 % |
| Swipe/Chip Corporate | 1.900 % | 2.00 % |
| Swipe/Chip Infinite Privilege/Premium | 2.080 % | 1.560 % |
A card not present (CNP) transaction is when you don’t have the buyer or credit card in front of you (i.e. phone, ecommerce, etc). Card not present interchange rates tend to be a little higher because there is slightly more risk of fraud due to sales being over the phone or internet.
| Card Type | Canada Visa Interchange Rates | Canada Mastercard Interchange Rates |
|---|---|---|
| Keyed Consumer | 1.450 % | 2.060 % |
Keyed Infinite/Premium | 1.700 % | 2.300 % |
| Keyed Corporate | 2.000 % | 2.000 % |
| Keyed Infinite Privilege/Premium | 2.450 % | 2.540 % |
Recurring payments are automatically scheduled payments through recurring billing software. Recurring billing interchange rates are low because these are consistently repeating transactions that also tend to be lower transaction amounts, therefore are considered lower risk.
| Card Type | Canada Visa Interchange Rates | Canada Mastercard Interchange Rates |
|---|---|---|
| Recurring Consumer | 1.250 % | 1.760 % |
Recurring Infinite/Premium | 1.530 % | 2.000 % |
| Recurring Corporate | 1.850 % | 2.000 % |
| Recurring Infinite Privilege/High-Spend | 1.950 % | 2.240 % |
There are special interchange rates for charities and non-profit payment processing listed below. Make sure you get set up properly to take advantage of the low payment processing rates.
| Card Type | Canada Visa Interchange Rates | Canada Mastercard Interchange Rates |
|---|---|---|
| Swipe/Chip/Keyed Consumer | 0.980 % | 1.000 % |
| Swipe/Chip/Keyed Infinite/High-Spend | 1.170 % | 1.250 % |
| Swipe/Chip/Keyed Corporate | 1.800 % | 2.000 % |
| Swipe/Chip/Keyed Infinite Privilege | 1.950 % | 2.000 % |
Assessments and association fees are other fees charged by Visa and MasterCard.
Fee Type | Canada Visa Rates | Canada Mastercard Rates |
|---|---|---|
Card-Brand | 0.1017 % | 0.0904 % |
International Cross-Border Card-Present (CAD) | 0.6780 % | 0.6780 % |
International Cross-Border Keyed (CAD) | 1.1300 % | 0.6780 % |
International Cross-Border (USD) | 1.1300 % | 1.1300 % |
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Clearly Payments is a payment processor in Canada. The Clearly Payments name and logo are trademarks of Clearly Payments Inc payment processing in Vancouver, Canada. The Interac name and logo are trademarks of Interac Inc Canada. The Visa and MasterCard logos are trademarks of Visa International and MasterCard International Incorporated. Clearly Payments is a Registered MSP/ISO U.S. Bank National Association Canadian Branch.