Transaction fees under the MIF++ scheme

Do you use the MIF++ scheme? Find out which fees make up the final transaction fee a merchant pays for every card payment accepted through a payment terminal.

The MIF++ scheme is based on a 2015 regulation of the European Parliament and of the Council and is mandatory for all payment solution providers. The scheme is popular thanks to its transparency and the elimination of hidden fees. The final transaction fee consists of three parts:

PART 1

Acquirer Fee

The fee of the payment terminal provider. Its amount is agreed in advance when the business terms are set. iKelp offers this fee from just 0.4%.

PART 2

Interchange Fee

A regulated fee between banks for processing payments: up to a maximum of 0.2% for debit cards and up to a maximum of 0.3% for credit cards of the value of the accepted transaction.

PART 3

Card Scheme Fee

Fees paid to card schemes such as VISA or Mastercard. The schemes set these fees themselves and they may change over time. They depend on the card type (debit / credit) and its origin (domestic / foreign).

Example of a standard debit card payment: how does it work in practice?

A customer paid for a 1,000 CZK purchase with a standard VISA debit card. Under the MIF++ scheme, the merchant's fee for this transaction is as follows:

0.79%Transaction processing fee

0.2%Issuing bank fee

0.1% + 0.35 CZKCard scheme fee

1.09% + 0.35 CZKFinal transaction fee

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