Interchange Fee Regulation for UK

What is myPOS Blended Service Fee?

The myPOS Blended Service Fee simplifies the fees payable for transactions by combining various charges into a single, easy-to-understand rate. This fee includes several components, such as Interchange and Scheme Fees, which are grouped into one rate f...

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What are Interchange and Scheme Fees?

When myPOS processes a transaction, it is required to pay a fee known as Interchange to the card issuer. This fee is determined by the relevant card scheme (e.g., Mastercard or Visa) and is paid to the customer’s card issuer. Additionally, myPOS pays fe...

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What are scheme fees?

Scheme fees are various charges imposed by card schemes (e.g., Mastercard, Visa) for accessing their systems, processing transactions, producing reports, and other services. The specific fees depend on several factors, including:   Card Brand: Different...

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What is interchange?

Interchange is a fee paid by card acquirers, such as myPOS, to the financial institution that issues the customer's card whenever a sale is processed. This fee is determined by the relevant card scheme (e.g., Visa, Mastercard) and is paid to your custom...

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