Merit III Prepaid Debit
Merit III Prepaid Debit is the MasterCard Interchange rate for a base card type card present offline or signature prepaid debit transaction.
Interchange fee: 1.05% + $0.15
- Introduced October 2012
- Cardholder and card present, signature obtained, 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.