North American Bancard – Interchange Rates (Increases & Updates) – 2023
Last Updated: 4/17/2023
North American Bancard updates its interchange rates and merchant fees on a regular basis.
To keep our readers informed, our team here at Merchant Cost Consulting keeps a close eye on all interchange updates and publishes new information whenever it’s brought to our attention.
North American Bancard Rate Increases – May 2023
Effective May 1, 2023, merchants on a “daily discount” tiered pricing plan will see discount rates increased by up to 0.25% for North American Bancard processing. “Daily discount” merchants on an interchange plus plan will see discount rates increased by up to 0.15%.
North American Bancard is upgrading some of its merchants to PCI Plus—which includes SAQs guidance, up to three MID scans, dedicated support, and breach forgiveness of up to $100,000. PCI compliant merchants are billed $145 annually plus $15 per month or $27 per month. Non-compliant merchants pay $145 per year plus $35 or $47 per month.
North American Bancard Rate Increases – April 2023
As of April 1, 2023, North American Bancard merchants on a “monthly discount” tiered pricing plan will have discount rates increased by up to 0.25%. “Monthly discount” merchants on an interchange plus plan will see rates increase by up to 0.15% effective 4/1/2023.
Effective April 2023, some North American Bancard merchants will also see increases to the following fees:
- Card network fees
- Processor fees
- Discount rates
- Interchange
- Assessments
All Tier 3 merchants will have their monthly PCI non-compliance fee raised to $10. An additional $0.10 will be charged to all non-EMV transactions as well.
About North American Bancard
North American Bancard is a payments technology and merchant services solution that’s been providing payment solutions since 1992.
NAB is the sixth-largest independent acquirer in the United States. They have over 1,300 employees serving more than 100,000+ merchants processing $45+ billion transactions per year.
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