EVO Payments Interchange Rates & Fee Updates (2024)
Last Updated 1/5/2024
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.
Read on for the latest updates.
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.
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