Interchange Fee Regulation for UK

  • What is myPOS Blended Service Fee?

    When myPOS processes a transaction, myPOS is required to give a percentage of the funds collected on your behalf to relevant card scheme involved in the transaction. This percentage consists of Interchange and Scheme Fees, fees that vary per transaction...

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  • What are scheme fees?

    The card schemes charge a variety of fees to myPOS for access to their systems, transaction processing, report production, etc.. Collectively, these charges are known as Scheme Fees. myPOS pays these fees on your behalf, and covers the cost within it...

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  • What is interchange?

    Interchange is a fee paid by card acquirers such as myPOS to the financial institution that provides the purchaser with their card, every time a sale is processed. The amount is set by the relevant card scheme (Visa, Mastercard, etc.). The fee can va...

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  • What is unblended tariff?

    In the terminology of the Interchange Fee Regulation (IFR) an Unblended tariff is one where transaction prices are stated separately for at least each card scheme (Visa, Mastercard, etc.), and each of three card categories (Consumer Prepaid & Debit, ...

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