Starting from September 6, 2016, new standards will be implemented for bank cards, POS machines, and credit card swiping fees. So, how much will the card processing fee be adjusted to?

UnionPay has officially implemented the re-entry process for existing merchants in the national market. The original MCC categories according to industry have been changed. The overview changes of the MCC categories are as follows: Standard Category , preferential categories, exemption categories, special billing categories.

The original general category, Mingsheng category, etc. are integrated into the standard category: 1.25, 1.28-80 caps, 0.78, 0.78-26 caps;

Some of the original Mingsheng categories can apply for preferential categories , it will be transferred back to the standard category after a limited time of two years;

The original 0 rate for government agencies, public welfare projects, etc. should be reduced or reduced;

In addition, the new version of the card processing fee will also be cancelled. It has capped the credit card handling fees in the real estate, automobile, and wholesale industries, fixed the service fees of the card issuing bank and UnionPay, and charged them directly to the acquiring bank, which will then charge the merchant. The charging standard is set by the acquiring bank itself, and Separate charges for loans and debits will be implemented for standard categories.

The lowest rate for debit cards: 0.35 from the issuing bank (13 yuan cap for a single transaction) Acquiring service fee (market adjustment price)

The lowest rate for credit cards: 0.45 from the issuing bank Acquiring service fee (market-adjusted price)

Based on the fact that the acquirer needs to have an operating cost of more than 0.15, the cost of the new version of the rate acquiring agency is approximately:

Debit card fee Rates: 0.35 for the card issuer, 0.15 for UnionPay = 0.5 (the cap is around 20 yuan per transaction)

Credit card rate: 0.45 for the card issuer, 0.15 for UnionPay = 0.6

The above are the costs, if you want Earning money is estimated to add about 0.1. That is to say, the handling fee for credit card swiping at standard charging merchants is around 0.7 or more!