High Value Merit I
- Interchange Rate: 2.50% + $0.10
High Value Merit I is the MasterCard Interchange Fee for a high value rewards card credit transaction.
- Card not present at time of authorization, single electronic authorization, transaction settled within 2 days of authorization, Banknet reference number and Banknet date required in clearing transaction.
- Also, non face-to-face and e-commerce transactions are exempt from the timeliness test.
- The sixth position of the approval code must be either an S” meaning participation in MasterCard High Value or “T” meaning participation in MasterCard High Value and MasterCard Product Graduation.