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MasterCard and Visa have worked with banks to significantly reduce the Interchange Reimbursement Fee

In recent months, MasterCard and Visa have worked with banks to significantly reduce the Interchange Reimbursement Fee (IRF) paid by registered charities when a benefactor uses a credit card to make a donation.

As a result, MasterCard no longer charges IRF to charities (0 per cent Interchange); while Visa has reduced the maximum IRF that banks can charge down to 0.39 per cent of the transaction amount.

Read the Charities Commission article ‘A very handy tip to reduce or avoid credit card fees on donations’.