As of today, the decision regarding the interchanges (service fee tariffs) applied among participants of payment systems has come into effect.
According to Medianews.az, for payments made within the country with payment cards according to the following MCC codes (the code assigned to the economic entity by the acquirer for classifying the area of activity of the economic entity), the upper limit of the interchange applied among participants of payment systems is as follows:
For payments made under the MCC codes belonging to the categories "Drug Stores and Pharmacies" and "Grocery Stores and Supermarket," 1.25 percent of the payment amount;
For payments made under the MCC codes belonging to the "Petrol" category, 0.75 percent of the payment amount;
For payments made under the MCC codes belonging to the "General" category, 1.5 percent of the payment amount.
For other MCC codes not specified, the upper limit of the interchange applied among participants of payment systems for payments made with payment cards within the country is not determined.
The decision was signed on March 18.
It should be noted that interchange is the commission fee applied during cashless payments between the issuing bank (issuer) and the acquiring bank (acquirer) involved in the settlement. This amount is usually divided by the banks from the service fee (acquiring) paid by the seller to the bank and is used for loyalty programs (cashback).//Bakıvaxtı.az