Frequently asked questions about changes to your pricing

How do changes from Visa and Mastercard affect my pricing?

The rates we charge you are designed to cover the costs we incur for processing your card transactions. This includes the Interchange fees and Scheme fees we’re charged when processing your transaction. If any of our costs change, we may sometimes need to adjust your pricing.

What is Interchange?

Interchange is the fee paid to the bank who issues the card your customer uses. It forms part of your Merchant Service Charges.
The amount of Interchange is set by Visa and Mastercard (the Card Schemes) and varies based on the type of cards you accept (credit, debit or commercial cards) and the country where the card is issued.

What are Scheme Fees?

Scheme Fees are charged by the Card Scheme (Visa or Mastercard) to the Card Acquirer processing the transaction for using its network. As with Interchange, Scheme Fees vary based on the card used and where it was issued and how the transaction is processed.

Why are my fees and charges changing?

In addition to covering the costs we incur when processing your card transactions, we’re also trying to make some charges more standardised and consistent across our customers.

How have you determined my pricing?

  • Your pricing is determined by a number of factors:

    1. Our costs in processing your transactions – this includes the Interchange and Scheme fees we pay to process your transactions, defined by the Card Schemes (Visa or Mastercard).

    2. Your transaction profile
    ·        the overall volume of card payments that you take
  • ·        the average amount of each transaction
  • ·        the ways in which you take the transaction e.g. secure/ non secure/ cardholder not present etc. 

When will the new pricing come into effect?

Your letter confirms the date your new pricing becomes effective. It will either be 1 August or 1 September.

Has my merchant acquiring services agreement with you changed?

Yes, the merchant acquiring services agreement that you entered into with us has changed, but only in terms of fees and charges. Our letter is a notice of variation of your contract and gives you the required notice to make that change in accordance with your terms and conditions. The other terms and conditions of your merchant acquiring services agreement with us remain in full force and effect. In case of conflict or inconsistency between the terms of the notice of variation and your merchant acquiring services agreement, the terms of the notice of variation will prevail.

Why does the change in the authorisation floor limit mean I now pay authorisation charges on Contactless transactions?

Visa and Mastercard determine the floor limits above which transactions must be authorised. The floor limits for Contactless transactions have been reduced to £0, meaning all Contactless transactions must now be authorised and therefore we’ll apply the associated authorisation charge to your account for doing so.

What do you mean by ‘making your charges more standardised and consistent’?

We’ve reviewed our charges and the way that they are applied across our customers to ensure that these not only cover our costs, but are applied more consistently across groups of customers with similar payment profiles.

My PCI DSS charges are not shown on the enclosed charges and fees schedule, why is that?

PCI DSS charges still apply but are not shown here. We haven’t included them with this letter as we’re writing to customers separately about those. Please look out for that separate letter if you haven’t already received one.

What’s a minimum monthly charge and is this new?

The minimum monthly charge is an adjustment made to your statement if your outlet’s total Merchant Service Charges in any month are under an agreed minimum value. This minimum charge is designed to cover the costs we incur in providing and administering your payments service. The charge isn’t new - it would have been on your original merchant acquiring services agreement.

What is the new international transaction fee?

The new international transaction fee is an additional charge of 2.2% which will be added to your base MSC rate for any transactions where the card is issued outside of the European Economic Area.

Why have you introduced a new international transaction fee?

International transactions cost us more to process than domestic transactions and, because the volume of international transactions that we’re seeing is increasing, we’ve decided to apply an additional cost for this type of transaction to cover our increased cost.

Are terminal rental fees changing? If so, why?

If your terminal rental fees are changing this will be stated in your letter and any revised rates will be shown on your pricing schedule. Any changes to terminal rental fees are designed to bring greater alignment and standardisation across customers.

I’ve lost my merchant acquiring services agreement, how can I get a copy?

We can arrange for a copy to be sent to you. Please call Customer Services 0800 046 6801*.

I’ve misplaced my charges and fees document and the letter notifying me of the changes to pricing. Can you send me a copy?

Yes. For a copy of either or both, please call our Customer Services Team on 0800 046 6801* and they can arrange for a copy to be sent to you.

I’m interested in taking online payments and adding new terminals to my account. Who can I talk to?

To add additional products and services to your account, please call our Sales Team on 0800 029 4258*.

I don’t understand some of the details in the documents you sent me. Who can I speak to for help and clarification?

Please contact our Customer Services Team on 0800 046 6801* who will be happy to help you.

I’m not happy about these changes, who can I speak to?

In the first instance, please contact our Customer Services Team on 0800 046 6801* who will be happy to discuss this with you.

How do I find out more information about the changes to my pricing and what will it cost?

If you have any questions regarding your new pricing and the impact of the changes, please give us a call on 0800 046 6801*.


If you have any further questions that are not answered here then please call our Customer Services Team on 0800 046 6801* who will be happy to help.