Merit III is the MasterCard Interchange rate for a base card type card present or signature credit transaction.
Interchange fee: 1.65% + $0.10
- 1.58% + $0.10 October 2019
- 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.
Is Merit III one of the interchange rates that went up in April 2020?
Yes, in October 2019 the rate was 1.58% + $0.10. As of April 2020 it went up to 1.65% + $0.10. An increase of 7 basis points (0.07%).