Interchange is a fee that the merchant's acquiring bank pay for the implementation of a payment transaction. This will help to compensate the card-issuing bank for some of the risks and costs it incurs by maintaining accounts for cardholders. Mastercard has the right to establish standardized interchange across national borders and within a country (domestic). Mastercard uses the same approach as when the interchange is determined in other parts of the world. The goal of standardized interchange is both to ensure that Mastercard cards are issued on a broad basis and that Mastercard cards are accepted on a broad base of retail outlets.
In accordance with Bank Negara Malaysia’s (BNM) Payment Card Reform Framework dated 23 December 2014, with effect from 1 July 2019, the intercountry interchange programs for Malaysia will be updated as listed in the attached tables.
The interchange rates changes will apply to all transactions that are acquired in Malaysia and initiated with MasterCard consumer and commercial Credit, Debit, and Prepaid cards issued in Malaysia.
With effect from 1 July 2017, Mastercard is introducing an interchange structure in Malaysia for business-to-business (B2B) transactions for participating acquirers and issuers in Malaysia and initiated with a qualifying commercial product issued in Malaysia. Customers who are interested may contact the location Customer Delivery lead or the local help desk.
*Note:
Bill Payment Aggregator, Charities, Government Services, Petroleum – Card Acceptor Business Code (MCCs) that qualify for the respective incentive interchange rates are as follows:-
| Incentive Interchange Category Name |
Card Acceptor Business Code (MCCs) |
|---|---|
| Bill Payment Aggregator | Only Applicable to registered bill payment aggregators. For more information, contact your local Mastercard representative. |
| Charities | 8398 - Organizations, Charitable and Social Service 8661- Organizations, Religious |
| Government Services | 9211 - Court Costs including alimony and child support 9222 - Fines 9223 - Bail and Bond Payments 9311 - Tax Payments 9399 - Government Services – not elsewhere classified 9402 - Postal Services – Government Only 9405 - Intra-government Purchases – Government Only |
| Petroleum | 5541 - Service Stations (with or without ancillary services) 5542 - Fuel Dispenser, automated |