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Mastercard Utility
Utility merchants who provide Electricity, Gas, or Water get heavily-reduced interchange rates from Mastercard
Mastercard has incredibly low interchange rates for merchants who are classified as a Utility. As these payments are considered “low risk” from a processing perspective, the interchange rates reflect that. You’ll see that many of the rates have no percentage fee, and just a flat, per-transaction fee.
Qualifications
- Must be classified as a Utility – Water, Gas, Electric, Sanitation (MCC 4900)
- Key-enter transaction, magnetic stripe, contactless, or chip data read, obtain customer’s signature.
- Authorize and settle within 1 day.
- Obtain and pass 1 valid electronic authorization.
- Can settle within 10% of authorized amount.
What are the rates?
Utility Core – 0.00% + $0.65
Downgrade (any reason): Standard, 2.95% + $0.10/txn
Enhanced Utility – 0.00% + $0.65
Downgrade (any reason): Standard, 2.95% + $0.10/txn
World Utility – 0.00% + $0.65
Downgrade (any reason): Standard, 2.95% + $0.10/txn
World Elite Utility – 0.00% + $0.75
Downgrade (any other reason): Standard, 3.25% + $0.10/txn
Utility Debit – 0.00% + $0.45
Downgrade (any reason): Standard Debit, 1.90% + $0.25/txn
Utility Prepaid – 0.00% + $0.65
Downgrade (any reason): Standard Prepaid, 1.90% + $0.25/txn
Regulated Debit – 0.05% + $0.22
Downgrade: This card type does not downgrade.
Who’s eligible?
Only Utility-merchants with an MCC of 4900 will qualify.