Starting from September 6, bank card swiping fees will be subject to new standards. The new handling fee cancels industry classification and reduces the rate level as a whole. However, in order to prevent cash out, the credit card swiping fee has been capped. According to the new rate, if you use a credit card to swipe 100,000 yuan, the handling fee will be more than 500 yuan. The merchant may ask the cardholder to pay the handling fee, or ask the cardholder to use a debit card instead.

_It is understood that the new regulations on bank card swiping fee rates to be implemented have two important changes, namely the cancellation of industry classification and the implementation of differential pricing for debit cards and credit cards.

_Currently, domestic card swiping rates are linked to industry classifications. The card swiping rate for dining and entertainment categories is the highest at 1.25%; for general merchants such as department stores, it is 0.78%; for supermarkets, gas stations, etc., it is 0.38%; for hospitals, it is 0.38%. , education and other public welfare categories are zero-rated. After the merchant industry classification pricing is cancelled, the overall card payment fee level will be significantly reduced. According to the new standards, the service fee rate level of the card-issuing bank is reduced to no more than 0.35% of the transaction amount for debit card transactions and no more than 0.45% for credit card transactions. In addition, the network service fee rate charged by bank card clearing institutions has been reduced to no more than 0.065% of the transaction amount, with the card issuer and acquirer each bearing 50%. Relevant officials from the Central Bank and the National Development and Reform Commission said in response to reporters' questions that in terms of categories, card processing fees for catering companies can be reduced by 53% to 63%, and merchants in department stores and other industries can reduce them by 23% to 39%. After the implementation of the new policy, public welfare cards such as hospitals and education will still have zero rate.

_Specific to the card type, debit cards are still capped, and the handling fee for a single transaction shall not exceed 13 yuan. In order to prevent malicious cash-out, there is no cap on credit card swiping fees. Insiders in the banyan industry said that the overall reduction in rates is good for merchants, but the removal of the cap on credit card swiping fees may lead to the issue of who pays the fees. Although the rates for credit card transactions were high before, there was a cap on a single transaction. If there was no cap, if a cardholder spent 100,000 yuan using a credit card, the single transaction fee would be more than 500 yuan.

_In the past, the card processing fee was paid by the merchant, and the card issuer, acquirer and UnionPay shared it in a ratio of 7:2:1. After the implementation of the new rates, the charging method will also be adjusted. The card issuer will charge the service fee to the acquirer, while the UnionPay network service fee will be shared by the card issuer and the acquirer, and the acquirer will negotiate with the merchant to charge it.

That’s it for the introduction of the handling fee of 100,000 POS machines.