Utility is the MasterCard Interchange Rate for a credit card transaction accepted by a registered utility merchant.
Interchange fee: 0.00% + $0.75
- 0.00% + $0.65 October 2019
- Transaction can be full magnetic stripe read or key-entered.
- Transaction settled within 1 days of authorization, authorization response data included in settled transaction.
- Transactions must be from a 4900 sic code.
- Registration is required and the assigned registration code must be passed to MasterCard in the settlement record.
Did the MasterCard interchange rate for Utilities increase in April 2020?
Yes, the interchange fee paid by utilities went up by $0.10, from $0.65 in October 2019 to $0.75 in April 2020.