20 SEPTEMBER, 2019
Mastercard has announced new interchange rates for refund transactions. This will affect transactions taking place in Europe with cards issued outside Europe.
Effective 19 October, 2019, Mastercard’s interchange rate on interregional refunds will be altered. The new refund interchange fees (also known as service fees), will be set to 1 % for consumer card transactions taking place in the Europe with cards issued outside of Europe, and 1.8 % for transactions with commercial cards.
This is an overall reduction in returned refund interchange compared to previous levels.