March 1st, 2007 by merchant account blog
Mastercard releases their new 100 page interchange schedule
Filed in: Industry News | 1 comment
Mastercard released on February 28th, their new interchange fee schedule. I have been looking it over for the past hour or so. Some of the core card rates are going down, but it looks like most of the rewards card tiers are going up.
Despite all of the negative attention about how complicated interchange is, Mastercard up-sized their fee schedule from 70 pages to 100 pages, but includes a small glossary obviously in attempt to simplify everything for everyone. My recommendation to simplifying this thing, is to remove about 90 pages…
Here’s the new Interchange rates effective April 2007:
April 2007 Mastercard Interchange
Even the Wall Street Journal cannot make heads or tails of the new document as stated in a recent article, “MasterCard’s complex overhaul, which is outlined in a 100-page fee schedule, makes it difficult to determine if the new rates, on average, are rising.” Intentionally or not, Mastercard’s latest attempt at transparency once again only serves to further confuse consumers and sheds little light on the on-going debate over interchange.