Merit I Prepaid Debit

Merit I Prepaid Debit is the MasterCard Interchange rate for a card not present ecommerce prepaid debit transaction. Merit I signifies keyed entry.

Interchange fee: 1.76% + $0.20

Change History:

  • Introduced October 2012 

Primary Qualifictions:

  • Card not present at time of authorization, single electronic authorization, transaction settled within 2 days of authorization, Banknet reference number
  • Banknet date required in clearing transaction
  • Non face-to-face and e-commerce transactions are exempt from the timeliness test.