Merit I Debit
- Interchange: 1.60% + $0.15
Merit I Debit is the partially qualified rate for card not present debit transactions.
- April 2012 1.64% + $0.16
- 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.