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Smart Bulletin No. 032

Updates to Commercial Interchange Fee for Visa and Mastercard Products


DateVersion History Action Log - Summary of Action/Changes
December 20, 2019Implementation of Smart Bulletin #32
February 23, 2024Revised for administrative updates
May 17, 2024Revised for administrative updates

Effective Date

April 12, 2019 (Visa) and April 13, 2019 (Mastercard)

Business Line(s) Affected

Purchase, Travel, Visa/Mastercard Fleet, and Integrated


Visa and Mastercard have increased the interchange fee, which is assessed for processing the transfer of funds between issuing banks and merchant banks.


  1. In a charge card, consumer, or commercial transaction, the merchant’s bank pays the interchange fee to the issuing bank. The merchant’s bank passes along the cost of the interchange fee to the merchant, and the merchant may factor in the cost of the association’s interchange fee in pricing for goods and services provided.
  2. The interchange fee varies and is influenced by factors, which may include but are not limited to the type of merchant, region of the world, type of transaction, payment solution used, and amount transacted.
  3. The increase in the interchange fee may be nominal and will not impact services currently provided or negotiated refund rates currently in effect for the GSA SmartPay 3 Program.


ACTION: For detailed interchange pricing information, please visit card association websites:

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