Restaurants Canada has been informed that Interac Corp. will be raising its switch fee. This is due to the reorganization of what was the Interac Association and Acxsys Corporation into a single entity, Interac Corp., with the goal of bringing merchants continued enhancements and innovation to future to products and services.
As a result of the new structure, pricing for each of these transactions will be adjusted:
- Switch fee for Interac Debit, Interac Flash and mobile Interac Flash will increase from $0.005659 to $0.008000
- Switch fee for Interac Cash will increase from $0.006243 to $0.008484
The switch fee changes for Interac Debit (including Interac Flash and mobile Interac Flash) and Interac Cash transactions will take effect August 7, 2018. Interchange fees are not impacted and will not change.
For more information, click here to read the notice or contact your local Interac Corp Client Director.