MasterCard Rules (PDF)

Asia/Pacific Region Rules
Section 10a—New Zealand Rules
9.5 Establishment of Intracountry Interchange and Service Fees
Rule 9.5 of Chapter 9, “Settlement,” is replaced in its entirety with the following:
This Rule 9.5 is applicable only to Intracountry Transactions and intracountry
cash disbursements.
Intracountry Transactions
The Corporation will establish and publish on its Web site containing content
specific to New Zealand and in such other manner as the Corporation deems
appropriate, maximum interchange fees for all Intracountry Transactions
(herein, the “MasterCard maximum interchange fee”). Issuers and Acquirers
may negotiate bilateral interchange fees (subject to any MasterCard maximum
interchange fee) and Issuers may determine interchange fees applicable to
their Intracountry Transactions (subject to any bilateral agreements and subject
to any MasterCard maximum interchange fee). Issuers must ensure that
with respect to each of their Intracountry Transactions, neither a negotiated
bilateral interchange fee nor an interchange fee set by the Issuer results in an
interchange amount with respect to that Intracountry Transaction that exceeds
the interchange amount payable pursuant to the maximum interchange fee
set by the Corporation.
An Issuer must promptly notify the Corporation of the interchange fees
applicable to its Intracountry Transactions, said fees must not exceed the
maximum interchange fee set by the Corporation. If an Issuer does not provide
the Corporation with an interchange fee that applies to each of its Intracountry
Transactions, then the Corporation will process the Transaction on the basis of
a zero interchange fee.
Each Issuer must publish the intracountry interchange fees notified to the
Corporation on its Web site except for those interchange fees which are
subject to a bilateral agreement. The Corporation either will publish on its
Web site containing content specific to New Zealand the Issuer’s intracountry
interchange fees (except for those interchange fees which are subject to a
bilateral agreement) or will provide a link from its Web site to the relevant
page of the Issuer’s Web site.
9.5.1 Default Intracountry Fees
Rule 9.5.1 of Chapter 9, “Settlement,” is modified to exclude default fees
established for Intracountry Transactions by the affirmative vote of Customers
that hold a License for the country and represent at least 75 percent of the
intracountry issuing Volume (excluding on-us Volume) and at least 75 percent of
the intracountry acquiring Volume (excluding on-us Volume) in the preceding
calendar year. For the avoidance of doubt, Rule 9.5.1 applies in its entirety
to intracountry cash disbursements.
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10-12 12 December 2012 • MasterCard Rules