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
- Introduced October 2012
- 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.