{"id":5328,"date":"2021-04-06T01:35:33","date_gmt":"2021-04-06T01:35:33","guid":{"rendered":"http:\/\/pspservices.com\/?p=5328"},"modified":"2025-08-07T18:58:59","modified_gmt":"2025-08-07T18:58:59","slug":"update-to-interac-flash-interchange","status":"publish","type":"post","link":"https:\/\/pspservicesco.com\/index.php\/2021\/04\/06\/update-to-interac-flash-interchange\/","title":{"rendered":"Update to Interac Flash Interchange"},"content":{"rendered":"\n

Effective Date:<\/strong> July 7, 2021<\/h3>\n\n\n\n

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

Impact:<\/strong> The Interac<\/em> Flash interchange fees currently apply to Interac <\/em>contactless transactions up to $100. Effective July 7, 2021 the interchange fees will apply to all Interac <\/em>contactless transactions up to $250 based each merchant\u2019s existing tier pricing qualification.<\/p>\n\n\n\n

Application: <\/strong>The interchange rates for each tier are as follows:<\/p>\n\n\n\n

   <\/td>Tiers<\/strong><\/strong><\/td>Flat fee per transaction<\/strong><\/td>Criteria for each Merchant Qualification<\/strong><\/strong><\/td><\/tr>
                Interac<\/em> Flash Transactions<\/td>Tier 1<\/strong> Low-ticket Merchants  <\/td>      $0.020<\/td>-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)  <\/td><\/tr>
<\/td>Tier 2<\/strong> High-volume Merchants<\/td>  $0.025<\/td>Merchants that meet a minimum annual transaction volume threshold of 20 million Interac Flash transactions, based on transaction volume in the previous calendar year.  <\/td><\/tr>
<\/td>Tier 3<\/strong> All other Merchants<\/td>  $0.035<\/td>Base interchange rate that applies to all other merchants.  <\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"

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\u2019s existing tier pricing qualification. Application: The interchange rates for each tier are as follows:     Tiers Flat fee per transaction Criteria for each Merchant Qualification                 Interac Flash Transactions Tier 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   $0.025 Merchants 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   $0.035 Base interchange rate that applies to all other merchants.  <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,82,83,23],"tags":[],"class_list":["post-5328","post","type-post","status-publish","format-standard","hentry","category-funding-trends","category-payments","category-point-of-sale","category-competitive-research"],"views":98863,"_links":{"self":[{"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/posts\/5328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/comments?post=5328"}],"version-history":[{"count":1,"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/posts\/5328\/revisions"}],"predecessor-version":[{"id":5824,"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/posts\/5328\/revisions\/5824"}],"wp:attachment":[{"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/media?parent=5328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/categories?post=5328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pspservicesco.com\/index.php\/wp-json\/wp\/v2\/tags?post=5328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}