What is IC++ ?
With an Interchange++ pricing model, we present full transparency into the costs associated to your transactions so that you can be sure how your fees are being charged.
With this model, the costs you will see in your settlement report will be broken down into three separate components: interchange fee, system fee and acquirer fee.
Interchange fee (IC)
For every card transaction, this exchange fee is paid by the your bank (acquirer) to the customer’s bank (issuing bank). This is why it is also called the “issuer fee”.
The cost for this fee is 0.20% - 1.80% on each transaction
Scheme fee (+)
Card organizations such as Visa or Mastercard charge a fee for handling and processing each transaction; this fee may vary depending on the location, security of the transaction or card type.
0.02% - 0.65% on each transaction
Acquirer fee (+)
A fixed fee is charged for the provision of a card service; this fee already covers the costs of service processing. This is the fixed fee we (SaltPay) charge.
The cost of interchange and scheme fees you pay will fluctuate based on the transactions types you process each month. Your price will lower when you process more local, debit, consumer card transactions, and increase when you process more foreign, credit, corporate card transactions. This means you will never over or under pay for the transactions you process and you will have a clear understanding of the share of the transaction we’re taking for our service.
In your settlement report you will see one rate to pay for your transactions broken into three component parts you can review.