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Pricing options available for your business in relation to merchant service fees payable for all credit card transactions accepted through a merchant facility. |
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Contact us
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Contact us for more information |
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email |
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phone 0800 888 066
(select option 3; 8.30am to 5pm, Monday to Friday) |
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Westpac branches |
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| As part of Westpac’s Interchange settlement with the New Zealand Commerce Commission, we are committed to offering new pricing options. |
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| Availability of pricing options may depend on the remaining term of your Merchant Credit Card Facility Agreement. |
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| Options available are: |
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Single Blended Merchant Service Fee - Currently available
We currently charge a single blended Merchant Service Fee for processing all Visa or MasterCard transactions. |
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Unblended Merchant Service Fee - Available by 31 July 2010
This option separates the Merchant Service Fee charged for Visa credit card transactions from the Merchant Service Fee charged on MasterCard credit card transactions. |
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Unbundled Merchant Service Fee - Available by 31 July 2010
Under this option, the Merchant Service Fee is unbundled so you are charged the interchange costs applicable for each Visa and MasterCard credit card transaction, plus an Acquiring Charge. In other words, the actual Merchant Service Fee you end up paying will depend on the mix of transactions accepted through the merchant facility. The Acquiring Charge is the amount that Westpac charges for Visa and MasterCard credit card transactions, in addition to the interchange fee. |
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| Interchange is the fee that the merchant's bank pays to the issuers of Visa or MasterCard cards for transactions accepted at the merchant facility when a Visa or MasterCard card is used (except where the transaction results from the presentation of a New Zealand issued Visa debit card at a New Zealand EFTPOS terminal). |
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| This is a variable fee depending on the |
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nature of the transaction |
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card type, and |
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processing environment for the transaction. |
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