EVO Payments Interchange Rates & Fee Updates (2024)

If you’re using EVO Payments to process credit and debit card transactions, you need to read and bookmark this resource. 

We’ll keep you updated with all of the latest interchange rates, updates, and relevant news that can impact your costs associated with EVO Payments. 

Continue below for the latest updates. You can also read our EVO Payments review for an insider take on its pros, cons, and pricing breakdown.

EVO Payments Updates and Rate Increases — July 2024

Effective July 1, 2024, EVO Payments notified merchants of potential “new fees and changes to rates and fees.”

The notice was very vague, and did not highlight exact charges or specific fees that might be impacted. We’re continuing to monitor statements for our clients and will update this resource with any specifics that we find. But this marks the third rate hike from EVO Payments in 2024 alone. 

Effective July 8, 2024, EVO is consolidating its chargeback and retrieval letters in an effort to reduce the number of pages sent to clients. So you’ll likely notice some changes the next time you receive one of these notices. 

New EVO Payments Rate Increase — Effective January, 1 2024

In a recent notice to merchants with expiring contracts, EVO Payments is increasing discount rates up to 1% for the following transaction types:

• Visa
• Mastercard
• Discover
• Amex OptBlue

These rate increases go into effect on 1/1/2024.

If you’ve been impacted by these rate increases, please contact our team here at Merchant Cost Consulting. We can help you negotiate your fees directly with EVO Payments to lower your rate.

EVO Payments Interchange Rate Increase — Effective June 2023

EVO Payments informed its merchants of increased prices effective for June 2023 statements. Here’s a summary of those fee updates:

• 0.50% increase to discount rate on all transactions
• $0.10 increase to authorization fee per item
• $0.05 increase on excessive authorization attempts for Mastercard transactions
• New $0.10 MSR fee for Visa transactions containing an authorization POS entry mode of 91
• 0.02% fee to estimated and incremental authorizations on Visa cards

All of these increases are effective June 1, 2023. 

About EVO Payments

EVO Payments is a payment technology and service provider. They process transactions in over 150+ currencies throughout 50 markets globally, including the US, Canada, Mexico, Europe, and UK.

EVO Payments works directly with merchants, as well as ISVs, financial institutions, VARs, ISOs, and government agencies. They provide business services, including:

• Merchant Acquiring
• Transaction Processing
• Fraud Prevention
• EMV Compliance
• Merchant Funding
• Value-Added Services
• Alternative Payments
• Gateway Services
• POS Terminals

This service provider works with over 550,000 businesses across the world, processing $100+ billion in transaction volume.