Changes to Visa & Mastercard Interchange

Our Statement

During the summer of 2020, both Visa and MasterCard decreased their interchange fees (learn more about cost rates) on a number of cards that most businesses in Canada accept. These changes were originally slated to take effect earlier in 2020 but were delayed due to the pandemic.

As part of our company guarantee, Discount Payments believes in honest, fair and consistent pricing. As such, we have passed 100% of the savings from this reduction automatically onto our customers.

We will continue to ensure all new Discount Payments customers enjoy the same benefit with our transparent cost-plus pricing.

The full benefit of these rate reductions began to be seen starting in August 2020.

As a current or future Discount Payments customer there is nothing required for you to do. We have already, and will continue, to pass all of these savings directly onto our customers.

We went the extra mile...

Due to the delay caused by the pandemic, the card brands were unable to complete the rate reductions by the originally announced dates. Discount Payments has worked to ensure that our customers receive a credit for the difference in time between the advertised date and when the changes actually took effect.

As a result, Discount Payments’ customers received a credit on their December statement to reflect this. Discount Payments is one of the very few (if any) processors who proactively made sure their customers received 100% of the benefit of all cost rate reductions (interchange).

Discount Payments promises to continue to pass any and all future savings stemming from industry changes then, now and moving forward.

Learn More

The changes took effect on July 17, 2020 (Visa) and on August 1, 2020 (MasterCard). They were originally planned to take place in April and May 2020 (respectively) but COVID caused delays. If you come across mention of those dates, don't be confused.

You can learn more about the rate changes directly from the source - the card networks. Here are Mastercard's old rates, new rates (button at the top of the page) and their official announcement concerning the delay due to COVID. Here are Visa's old rates, new rates (bottom of the page, Visa Canada Interchange Reimbursement Fees PDF) and their original announcement about the upcoming changes.


We love to answer questions and teach all that we know. Feel free to reach out! Seriously. Even if you're not interested in working with us, we'd be happy to answer your questions concerning interchange.