Interchange++

Buckaroo offers merchants the option to invoice credit and debit card transactions via the Interchange++ model. This model is available only if card payment methods are contracted directly through Buckaroo and the merchant does not have a separate contract with an acquirer such as Worldline or EMS.

What is Interchange++?

The costs of a card transaction under the Interchange++ model are divided into three parts:

1. Interchange Fees: Costs from the bank or agency that issued the card.
2. Scheme Fees (first +): Costs from the card scheme processing the transaction (e.g., Mastercard, Visa).
3. Acquirer Fees (second +): Fees from the acquirer processing the transaction.

Factors Influencing Fees

The exact amount of interchange and scheme fees depends on various factors, such as:

• Country of the merchant
• Type of card (debit or credit)
• Issuing country of the card
• Card type (private, premium, corporate)

Why choose Interchange++?

• Transparency: Merchants gain insight into the exact costs of their card transactions.
• Fair Pricing: Merchants pay lower amounts for cards with low interchange and scheme fees and higher amounts for those with higher fees.

How Buckaroo invoices Interchange++

• Deposit Charge: Buckaroo charges a fixed percentage for interchange and scheme fees as a deposit, termed Interchange+. This daily charge is based on the volume of the merchant's card transactions and is included in the regular transaction costs.
• Corrections: Once the actual interchange and scheme fees are known, Buckaroo calculates any overcharged or undercharged amounts. These corrections are settled with the merchant’s balance through the regular transaction costs. Corrections can result in money being refunded to the merchant.

Invoice Details

The total correction and the Interchange+ costs for the month are shown separately on the Buckaroo invoice.

Gaining insight into Fees

Merchants using the Interchange++ model have access to the Interchange+ report in Buckaroo Plaza under the "Financial" menu. This report includes:

• Amount charged as Interchange+
• Actual interchange and scheme fees
• Amount of the correction
• Date of the correction

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Note

Actual fees, corrections, and correction dates are not immediately visible as they are determined at a later date. The merchant can use this report to gain insight into the costs as well as verify the costs and corrections charged/settled by Buckaroo.