Update to Interac Flash Interchange

Update to Interac Flash Interchange

Effective Date: July 7, 2021

Description: Effective January 29, 2021 Interac revised their rules to increase the Interac Flash contactless per transaction limit from $100 to $250. Issuers may optionally support Interac Flash contactless transactions up to $250 for their cardholders. As a reminder, under Interac rules, merchants are not permitted to set a per transaction limit on terminals. 

Impact: The Interac Flash interchange fees currently apply to Interac contactless transactions up to $100. Effective July 7, 2021 the interchange fees will apply to all Interac contactless transactions up to $250 based each merchant’s existing tier pricing qualification.

Application: The interchange rates for each tier are as follows:

   TiersFlat fee per transactionCriteria for each Merchant Qualification
                Interac Flash TransactionsTier 1 Low-ticket Merchants        $0.020-Fast Food Restaurants (MCC 5814) -Variety Stores (MCC 5331) -Movie Theatres (MCC 7832) -Convenience Stores (MCC 5499) -Bakeries (MCC 5462) -Dairy Product Stores (MCC 5451) -Limousines and Taxicabs (MCC 4121) -News Dealers and Newsstands (MCC 5994) -Charitable and Social Services -Organizations (MCC 8398)  
Tier 2 High-volume Merchants  $0.025Merchants that meet a minimum annual transaction volume threshold of 20 million Interac Flash transactions, based on transaction volume in the previous calendar year.  
Tier 3 All other Merchants  $0.035Base interchange rate that applies to all other merchants.  

1 Comment

  1. נערות ליווי
    May 17, 2022 at 4:47 pm

    The next time I read a blog, Hopefully it doesnt fail me just as much as this one. I mean, Yes, it was my choice to read through, but I actually thought you would have something useful to say. All I hear is a bunch of moaning about something that you could fix if you werent too busy searching for attention.

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