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Effective April 1, 2005, MasterCard lowered the Interchange rate by $0.05. MasterCard transactions are processed via the Cirrus ATM network, which accounts for approx. 5% of all ATM transactions on our network.
Effective October 1, 2005 Visa lowered the Interchange by $0.10. Visa transactions are processed thru the Plus network, which accounts for approx 10% of all ATM transactions on our network.
This does not affect the ATM surcharge; it only affects the additional 10% Interchange commission revenue you receive over and above the surcharge on this small percentage of transactions for these specific networks.
If your ATM processes 500 transactions per month, the number of MasterCard/Cirrus based transactions is approx. 25 (5%) transactions. Your commission is reduced by $0.05 on those 25 transactions (approx. $1.25).
If your ATM processes 500 transactions per month, the number of Visa/Plus based transactions is approx. 50 (10%) transactions. Your commission is reduced by $0.10 on those 50 transactions (approx. $5.00).