Convenience Purchases is the MasterCard Interchange rate for a base card type card present or signature credit transaction accepted at one of these merchant locations: Fast Food, Convenience Store, Taxi, or Movie Theater.
Interchange fee: 1.65% + $0.04
- 1.90% + $0.00 October 2019
- Cardholder and card present at the time of the transaction, single electronic authorization, read & transmit complete magnetic stripe
- Transaction settled within 1 day of authorization, Banknet reference number and Banknet date required in clearing transaction.
- Transactions taken by Fast Food, Convenience Stores, Motion Picture Theaters, and Taxi Cab Services.
Is this one of the interchange rates that increased in April 2020?
In April 2020, the Convenience Purchases interchange rate changed from 1.90% + $0.00 to 1.65% + $0.04. The percentage component of the fee went down, and the per item went up.