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Fee Change Summary

TD Merchant Solutions (TDMS) is committed to keeping you informed of changes that may affect the fees and rates you pay on your Merchant Account.

To help you better understand these changes, select the applicable tabs below for the full details of what's changing, as well as the effective dates of the changes. These changes will appear on the first TDMS statement you receive after the effective date.

You may also view previously communicated and implemented changes by selecting each of the links below.

November 1, 2024 Rate Changes

Effective November 1, 2024, Interac is decreasing the Flash Interchange Rate for the following Merchant Category Codes (MCC) and will move them from Tier 3 at $0.035 to Tier 1 program of $0.02 per debit contactless transaction. If applicable, these changes will appear on your November 2024 statement (delivered in December 2024).

Interac Direct Payment (IDP) Assessment Fee

Effective November 1, 2024, Interac is increasing its Assessment Fee by $0.0017 for all Interac transactions. If applicable, the increase will appear in the INTERAC DIRECT PAYMENT (IDP) ASSESSMENT FEE line on your November 2024 statement (delivered in December 2024).

April 1, 2024 Rate Changes

Interac Direct Payment (IDP) Assessment Fee

Effective April 1, 2024, Interac is decreasing its Assessment Fee by $0.0017 for all Interac transactions. If applicable, the decrease will appear in the INTERAC DIRECT PAYMENT (IDP) ASSESSMENT FEE line on your April statement (delivered in May 2024).

November 1, 2023 Rate Changes

Change to Flash Contactless Tier 1 Program

Effective November 1, 2023, Interac will include Merchant Category Code (MCC) 4784 (Toll Roads/Bridges) under the Flash Contactless Tier 1 program of $0.02 per debit contactless transactions. If applicable, these changes will appear on your November 2023 statement (delivered in December 2023).

April 1, 2023 Rate Changes

Change to the Interac Assessment Fee

Effective April 1, 2023, Interac is increasing its Assessment Fee by $0.0039 for all Interac transactions. If applicable, the increase will appear in the INTERAC DIRECT PAYMENT (IDP) ASSESSMENT FEE line on your April statement (to be delivered in May 2023).

May 2025 Program Changes

Mastercard Small Business Interchange Program

Reminder: On November 1, 2024, a new Mastercard Small Business interchange program came into effect. Merchants who qualify for the Mastercard Small Business program process less than $175,000 in annual Mastercard transaction volume.

As we advised, Mastercard regularly reviews the Small Business interchange program to determine the merchants that are eligible for the rates.

Effective May 1, 2025, merchants who process more than $175,000 in annual Mastercard transaction volume and therefore do not or no longer qualify for the Mastercard Small Business Program will see their Mastercard Credit Rate or the applicable Mastercard Interchange Rate adjusted to reflect the regular interchange rates for their type and size of business.

Merchants whose annual processing volumes are now less than $175,000 in annual Mastercard transaction volume, based on the qualification period from October 1 to September 30, will qualify for the Mastercard Small Business Interchange programs and will see the applicable interchange rates take effect on May 1, 2025, as described above.

Merchants who process greater than $175,000 in Mastercard transaction volumes annually qualify for the Canada Intracountry Consumer Credit Rate, which are posted at https://www.td.com/ca/en/business-banking/merchant-solutions/interchange-rates.

July 2025 Rate Changes

Increase to the Mastercard Assessment Fee

Effective July 1, 2025, Mastercard is increasing its Assessment Fee for all Mastercard transactions. If applicable, the increase will appear on the MASTERCARD ASSESSMENT FEE line on your July 2025 statement (delivered in August 2025) onwards.

 

Effective Date

Fee Name

Change Origin

Amount Passed On

Previous Fee

New Fee

Date to cancel by without penalty

07/01/2025

Mastercard Assessment Fee

PCNO

100%

0.0983%

0.1017%

09/09/2025

 

Note: Payment Card Network Operator (PCNO). 

April 2025 Rate Changes

Mastercard Flex Program Assessment Fee

Effective April 14, 2025, Mastercard is introducing a NEW Mastercard Flex Assessment Fee of 0.113%, which will be applied to all Mastercard Flex Credit transactions under the new Mastercard Flex Program. The Mastercard Flex Program applies to the non-travel B2B (business-to-business) transactions on B2B platforms. This fee will appear as Mastercard Flex Assessment Fee on the merchant statement.

If applicable, these changes will appear on your April 2025 statement arriving in May 2025.

Mastercard Global Wholesale Program (B2B) Assessment Fee

Effective April 14, 2025, Mastercard's B2B Assessment Fee of 0.678% will be applied to all Mastercard transactions under the Global Wholesale (B2B Travel) Program. This fee will appear as Mastercard B2B Assessment Fee on the merchant statement.

If applicable, these changes will appear on your April 2025 statement arriving in May 2025. 

October 17, 2024 Rate Changes

New Mastercard Small Business Interchange Program

Starting October 17, 2024, Mastercard is introducing the Canada Intracountry Consumer Credit Small Business Program interchange rates. This change will apply to all transactions on domestic issued consumer credit cards: Core, World, World Elite & Muse. Merchants who process under $175,000 in Mastercard transaction volumes annually will qualify for the Small Business Canada Intracountry Consumer Credit Rate Program.
Qualification is reviewed annually by Mastercard. Merchants who process greater than $175,000 in Mastercard transaction volumes annually will qualify for the Canada Intracountry Consumer Credit Rate, which are posted at https://www.td.com/ca/en/business-banking/merchant-solutions/interchange-rates.
For details on the Qualifying Small Business Interchange rates please see the following chart:

Qualifying Small Business Program (TDMS statement descriptors)

Consumer (Core)

Consumer Hi-Spend (World)

Consumer Premium Hi-Spend (World Elite)

Consumer Muse (Muse)

Card Present EMV - Small Business

CDN EMV QUAL SB

0.72%

0.95%

1.22%

1.29%

Unsecure Card Present – Small Business

CDN UC PRES QUAL SB

0.95%

1.19%

1.45%

1.52%

Digital Commerce – Small Business

CDN DIGI QUAL SB

CDN DIGI QUAL SB

1.80%

2.03%

2.15%

Contactless – Small Business

CDN CLESS QUAL SB

0.72%

0.95%

1.22%

1.29%

SecureCode / 3DS – Small Business

CDN 3DS QUAL SB

1.40%

1.60%

1.80%

1.93%

Card Present Refund – Small Business

CDN C PRES REF QUAL SB

0.43%

0.57%

0.73%

0.77%

Card Not Present Refund – Small Business

CDN CN PRES REF QUAL SB

0.96%

1.10%

1.24%

1.33%

If applicable, these changes will appear on your October 2024 statement (delivered in November 2024).

October 1, 2024 Rate Changes

Mastercard Mail Order Telephone Order (MOTO) Fee

Effective October 1, 2024, Mastercard is introducing a NEW Mastercard MOTO fee of 0.017%, which will be applied to all Mastercard credit and debit Mail Order Telephone Order (MOTO) transactions. A MOTO transaction is typically a transaction that is manually entered on a solution. The new Mastercard MOTO fee will first appear on your October 2024 statement (delivered in November 2024).

July 2024 Rate Changes

Mastercard Enterprise Solution Wholesale Travel Program NEW Product Codes and Interchange Rates

Effective July 1, 2024, Mastercard is introducing NEW product codes and interchange rates for the Mastercard Enterprise Solution Wholesale Travel program. If applicable, these changes will appear on your July 2024 statement (delivered in August 2024). The following table outlines the new product codes and interchange rates. For more information on this interchange program type (e.g., B2B Product 18, etc.), please visit mastercard.ca.

October / November 2023 Rate Changes

Mastercard Enterprise Solution Wholesale Travel Program

Effective October 11, 2023, Mastercard is introducing NEW product codes and interchange rates for the Mastercard Enterprise Solution Wholesale Travel program. If applicable, these changes will appear on your October 2023 statement (delivered in November 2023). The following table outlines the new codes and interchange rates. For more information on this interchange program type (e.g., B2B Product 7, etc.), please visit mastercard.ca.

Mastercard Card-Not-Present (CNP) Decline Fee

Effective November 1, 2023, Mastercard is updating the MASTERCARD CNP DECLINE FEE such that transactions which are declined for insufficient funds will incur a fee of $0.03 per transaction. If applicable, these changes will appear on your November 2023 statement (delivered in December 2023).

March 2023 Rate Changes

NEW Mastercard Digital Enablement Fee

Effective March 13, 2023, Mastercard is introducing a new Mastercard Digital Enablement Fee of 0.02% for all Card Not Present transactions (such as Manual Keyed Entry transactions and eCommerce transactions). This new Fee will be subject to a minimum of $0.028 to a maximum of $0.28 per transaction. If applicable, the Fee(s) will appear in the MASTERCARD DIGITAL ENABLE FEE line on your March statement (to be delivered in April 2023). For details see the following chart:

Threshold Amount

Fee

MASTERCARD DIGITAL ENABLE FEE T1

<$140

$0.028

MASTERCARD DIGITAL ENABLE FEE T2

$140 - $1,400

0.02%

MASTERCARD DIGITAL ENABLE FEE T3

> $1,400

$0.28

Discontinued Fees:

Effective March 13, 2023, Mastercard will be discontinuing certain fees. If applicable to your Account, the Fees have been listed on your statement as:

  1. MASTERCARD ADDRESS VERIFICATION FEE

  2. MASTERCARD CVC VERIFICATION FEE

  3. ABU ENROLLMENT FEE

  4. ACCOUNT INFORMATION UPDATE FEE

  5. MASTERCARD EMV3DS FEE PERCENT

  6. MASTERCARD EMV3DS FEE CAPPED

  7. MASTERCARD DIGITAL COMMERCE DEVELOPMENT FEE

If applicable, these Fees will no longer be charged as of your March statement (to be delivered in April 2023).

May 2023 Rate Changes

Change to Mastercard Canada Intracountry Consumer Credit Contactless Interchange rate

Effective May 6, 2023, Mastercard is increasing their Canada Intracountry Consumer Credit Contactless interchange rates. This change will apply to all contactless transactions on domestic issued consumer credit cards: Core, World, World Elite & Muse. For details see the following chart:

Current Rate

New Rate

Increase

Core

0.87%

0.92%

↑0.05%

World

1.16%

1.22%

↑0.06%

World Elite

1.48%

1.56%

↑0.08%

Muse

1.57%

1.65%

↑0.08%

If applicable, these changes will appear on your May statement (to be delivered in June 2023).

April/May 2025 Program Changes

Visa Small Business Interchange Program

Reminder: On November 1, 2024, a new Visa Small Merchant interchange program came into effect. Merchants who qualify for the Visa Small Merchant program process less than $300,000 in annual Visa transaction volume. Merchants who choose to surcharge on Visa transactions may not qualify for the reduced interchange rates.

As we advised, Visa regularly reviews the Small Merchant interchange program to determine the merchants that are eligible for the rates.

Effective April 10, 2025, merchants with Interchange Plus (iPlus) pricing who process more than $300,000 in annual Visa transaction volume and therefore do not or no longer qualify for the Visa Small Merchant Program will see the applicable Visa Interchange Rate adjusted to reflect the regular interchange rates for their type and size of business. Merchants with other (non-iPlus) pricing who do not or who no longer qualify for the Visa Small Merchant Program will see their Visa Credit Rate or the applicable Visa Interchange Rate adjusted effective May 1, 2025.

Merchants whose annual processing volumes are now less than $300,000 in annual Visa transaction volume based on the qualification period from October 1 to September 30, will qualify for the Visa Small Business Interchange program, and will see the applicable interchange rates take effect on April 10, 2025 or May 1, 2025, as described above. 

Merchants who process greater than $300,000 in Visa Transaction volumes annually qualify for the Canada Intracountry Consumer Credit rates, which are posted at https://www.td.com/ca/en/business-banking/merchant-solutions/interchange-rates.

April 2025 Rate Changes

Visa Domestic Consumer and Commercial Prepaid Program Changes

Effective April 10, 2025, Visa is making changes to their Canadian Domestic Consumer and Commercial Prepaid Programs by discontinuing some interchange program types. As a result, transactions previously qualified under the retired program types will fall under the existing Standard or Electronic Interchange Program types and will be charged at the applicable interchange rates as outlined in the table below.

Note: Effective April 10, 2025, transactions previously under the "Card Not Present" and "Recurring" Consumer Prepaid Programs will qualify as Standard Program type at a 1.52% interchange rate. All other transactions under other discontinued Consumer Prepaid program types will qualify as Electronic Program type at a 1.42% interchange rate.

If applicable, these changes will appear on your April 2025 statement arriving in May 2025. 

Canadian Domestic Consumer Prepaid Programs

TDMS Statement Descriptors

Existing Interchange Rate

Interchange Rate Effective April 10, 2025

Standard

CDN PREPAID STANDARD

1.52%

No change

Electronic

CDN PREPAID ELEC.

1.42%

No change

Card Not Present

CDN PREPAID CNP

1.52%

Discontinued

Recurring Payments

CDN PREPAID RECURRING

1.37%

Discontinued

Emerging Segments

CDN PREPAID – EMG

0.98%

Discontinued

Everyday Needs Program

CDN PREPAID ELEC EVERYDAY

1.36%

Discontinued

Industry Program-Grocery and Food Retail

CDN PREPAID ELEC.

1.23%

Discontinued

Industry Program-Gas

CDN PREPAID ELEC.

1.18%

Discontinued

Performance Program-Card Present Electronic Program

CDN PREPAID ELEC.

1.32%

Discontinued

Visa Domestic Consumer and Commercial Prepaid Program Changes

Note: Effective April 10, 2025, all transactions under discontinued Commercial Prepaid programs will qualify as Standard Program type at a 2.00% interchange rate. 

TDMS Statement Descriptors

Existing Interchange Rate

Interchange Rate Effective April 10, 2025

Standard

CDN COM PREPAID STANDARD

2.00%

No change

Recurring Payments

CDN COM PREPAID RECURRING

1.85%

Discontinued

Electronic

CDN COM PREPAID ELEC.

1.90%

Discontinued

Industry Program-Grocery

CDN COM PREPAID ELEC.

1.85%

Discontinued

Industry Program-Gas

CDN COM PREPAID ELEC.

1.80%

Discontinued

Performance Program-Card Present Electronic Program

CDN COM PREPAID ELEC.

1.80%

Discontinued

Emerging Segments

CDN COM PREPAID - EMG

1.80%

Discontinued

Visa Canada Domestic Business Credit Interchange Programs

Effective April 10, 2025, Visa is making changes to their Canadian Domestic interchange structure for Visa Business and Visa Infinite Business Credit Program types by discontinuing all non-standard rates. As a result, transactions previously qualified under the retired program types will fall under the existing Standard Interchange Program type and applicable rates as outlined in the table below.

In addition, Visa is increasing the Visa Infinite Business Credit Standard rate from 2.25% to 2.35%.
If applicable, these changes will appear on your April 2025 statement arriving in May 2025.

Note: Effective April 10, 2025, transactions under all discontinued program types will qualify as either Standard Business Credit Program type at a 2.00% interchange rate, or Standard Infinite Business Credit Program type at a 2.35% interchange rate. 

Interchange Program Type

TDMS Statement Descriptors

Existing Interchange Rate

 Interchange Rate effective April 10, 2025

Standard

Business Credit

CDN BUS STANDARD

2.00%

2.00%

Infinite Business Credit

CDN INF BUS STANDARD

2.25%

2.35%

Electronic

Business Credit

CDN BUS ELEC.

1.90%

Discontinued

Infinite Business Credit

CDN INF BUS ELEC.

2.10%

Discontinued

Emerging Segments

Business Credit

CDN BUS EMG

1.80%

Discontinued

Infinite Business Credit

CDN COM INF HI-SPEND ELEC.

2.00%

Discontinued

Industry Program-Gas

Business Credit

CDN BUS ELEC.

1.80%

Discontinued

Infinite Business Credit

CDN COM INF HI-SPEND ELEC.

2.00%

Discontinued

Industry Program-Grocery

Business Credit

CDN BUS ELEC.

1.85%

Discontinued

Infinite Business Credit

CDN COM INF HI-SPEND ELEC.

2.00%

Discontinued

Performance Program-Card Present

Business Credit

CDN BUS ELEC.

1.80%

Discontinued

Infinite Business Credit

CDN COM INF HI-SPEND ELEC.

2.00%

Discontinued

Recurring Payments

Business Credit

CDN BUS RECURRING

1.85%

Discontinued

Infinite Business Credit

CDN COM INF HI-SPEND RECURRING

2.00%

Discontinued

January 2025 Rate Changes

Changes to Visa Domestic Debit Interchange Program Rates

Effective January 1, 2025, Visa is making changes to their Canadian Domestic Debit Interchange program for Card Present Electronic and Industry Program for Gas and Grocery interchange programs as outlined in the table below.

If applicable, these changes will appear on your January 2025 statement arriving in February 2025.

Existing Interchange Rate

Updated Interchange Rate

CDN DEBIT ELECTRONIC

0.25% + $ 0.05

$ 0.03

CDN DEBIT ELECTRONIC PERFORMANCE PROGRAM

0.15% + $ 0.05

$ 0.03

CDN DEBIT ELECTRONIC GAS

0.15% + $ 0.05

$ 0.03

CDN DEBIT ELECTRONIC GROCERY

0.15% + $ 0.05

$ 0.03

October 2024 Rate Changes

New Visa Small Business Interchange Program

Effective October 17, 2024, Visa is introducing the Canada Intracountry Consumer Credit Small Merchant Program interchange rates. This change will apply to all transactions on domestic issued consumer credit cards: Consumer, Infinite, Infinite Privilege, for qualified Merchants. Merchants who process under $300,000 in Visa transaction volumes annually will qualify for the Small Merchant Canada Intracountry Consumer Credit rate program*.

Qualification is reviewed annually by Visa. Merchants who process greater than $300,000 in Visa Transaction volumes annually will qualify for the Canada Intracountry Consumer Credit rates, which are posted at https://www.td.com/ca/en/business-banking/merchant-solutions/interchange-rates.

For details on the Qualifying Small Business interchange rates please see the following chart:

Qualifying Small Business Program (TDMS statement descriptors)

Consumer

Infinite

Infinite Privilege

Small Merchant Card Present

CDN ELEC QUAL SB

0.81%

0.99%

1.80%

Small Merchant Card Not Present

CDN CNP QUAL SB

1.30%

1.55%

2.30%

Small Merchant Card Not Present (Token)

CDN TKN CNP QUAL SB

1.25%

1.50%

2.25%

If applicable, these changes will appear on your October 2024 statement (delivered in November 2024).

Visa Omni Changes

Effective October 17, 2024, Visa is introducing new product codes and interchange rates for the Visa Commercial Choice Omni and Visa Commercial Choice Travel Programs (B2B travel). If applicable, this change will appear on your October 2024 statement (delivered in November 2024).

April 1, 2024 Rate Changes

Visa CVV2 Fee

Effective April 1, 2024, Visa is introducing a new VISA CVV2 FEE of $0.004 per Visa Card Verification Value 2 (CVV2)* transaction. If applicable, these charges will appear on your April 2024 statement (delivered in May 2024).
*The Visa Card Verification Value 2 is the three-digit security code printed on the back of the card which is required to be sent on all Card-Not-Present/e-commerce transactions.

Visa Commercial Fee

Effective April 1, 2024, Visa is introducing a new VISA COMMERCIAL FEE of 0.0113%, which will apply to all Visa Commercial and Infinite Business transactions (Domestic and International). If applicable, these charges will appear on your April 2024 statement (delivered in May 2024).

October 2023 Rate Changes

NEW International Consumer and Commercial Credit Interchange Rates

Effective October 12, 2023, Visa is introducing new International (Non-Canadian or “NON CDN”) Consumer and Commercial credit interchange rates. If applicable, these changes will appear on your October 2023 statement (delivered in November 2023). The following table outlines the new interchange rates.

New Program Description (appears on your TDMS statement as)

New Interchange Rates

Non-Premium—Card Present (Base) Fee Program

NONCDN NONPREMIUM CP

1.10%

Super Premium—Card Not Present (Alternative) fee Program

NONCDN SUPER PREMIUM CNP

1.98%

Premium—Card Not Present (Alternative) fee program

NONCDN PREMIUM CNP

1.85%

Non-Premium— Card Not Present (Alternative) fee program

NONCDN NONPREMIUM CNP

1.60%

Business/Corporate/Purchasing Card Not Present (Alternative) fee program

NONCDN COMMERCIAL CNP

2.00%

Super Premium—Downgrade fee program

NONCDN SUPER PREMIUM DGD

2.03%

Premium—Downgrade fee program

NONCDN PREMIUM DGD

1.90%

Non-Premium—Downgrade fee program

NONCDN NONPREMIUM DGD

1.65%

Business/Corporate/Purchasing—Downgrade fee program

NONCDN COMMERCIAL DGD

2.05%

Consumer Credit Voucher/Merchandise Return Fee

NONCDN CONSUMER REFUND

1.00%

Consumer Credit Voucher/Merchandise Return Fee

NONCDN COMMERCIAL REFUND

1.80%

International Consumer Credit Interchange Rates

Effective October 12, 2023, Visa is increasing its International (Non-Canadian or “NONCDN”) Consumer Credit interchange rates. If applicable, these changes† will appear on your October 2023 statement (delivered in November 2023). The following table outlines the new interchange rates.

International Interchange Reimbursement Fees (NON CDN)

Program Description (appears on your TDMS statement as)

New Interchange Rates - Existing

New Interchange Rates - New

Super Premium—Card Present (Base) fee program

NONCDN SUPER PREMIUM CP

1.97%

1.98%

Premium—Card Present (Base) fee program

NONCDN PREMIUM CP

1.80%

1.85%

†Please note with these changes:

  1. The Interchange program type "Standard" or "STD" is being replaced with "Uncategorized" or "UNCAT".

  2. The following Interregional Fee Programs are No Longer Applicable to Visa Consumer Transactions :

April/May 2023 Rate Changes

NEW Visa Estimated Authorization & Visa Incremental Authorization Fees

Effective April 17, 2023, Visa is expanding its authorization framework to allow all Merchants to use Estimated and Incremental authorizations, which are used when the final amount of a transaction is not known. A Fee of 0.02% for Estimated Authorizations and 0.02% for Incremental Authorization will be assessed on approved authorizations. The Fee will apply to Visa Credit and Visa Debit authorizations. If applicable, the Fee will appear in the VISA PRE-AUTHORIZATION FEE line on your April Statement (to be delivered in May 2023).

Change to Visa Account Information Update (VAU) Fee

Effective May 1, 2023, Visa will increase their Visa Account Information Update Fee. Visa is increasing this pay-per-use Fee from $0.10 to $0.125 per match. If applicable, the Fee will appear in the VISA ACCOUNT INFORMATION UPDATE FEE line on your May Statement (to be delivered in June 2023).

April/May 2025 Program Changes

Small Business Interchange Program - Visa Credit and/or Mastercard Credit Rate and the Applicable Visa and/or Mastercard Interchange Rate

On November 1, 2024, new Visa and Mastercard small business interchange programs came into effect. Under those interchange programs:

  • Merchants who qualify for the Visa Small Merchant program process less than $300,000 in annual Visa transaction volume.
  • Merchants who qualify for the Mastercard Small Business program process less than $175,000 in annual Mastercard transaction volume.
  • Unqualified Merchants process above these amounts.
  • Merchants who choose to surcharge on Visa transactions may not qualify for these reduced interchange rates.

As we advised, Visa and Mastercard regularly review the programs to determine the merchants that are eligible for the rates.

Effective April 10, 2025, merchants with Interchange Plus (iPlus) pricing who process more than $300,000 in annual Visa transaction volume and therefore do not or no longer qualify for the Visa Small Merchant Program will see the applicable Visa Interchange Rate adjusted to reflect the regular interchange rates for their type and size of business. Merchants with other (non-iPlus) pricing who do not or who no longer qualify for the Visa Small Merchant Program will see their Visa Credit Rate or the applicable Visa Interchange Rate adjusted effective May 1, 2025.

Effective May 1, 2025, merchants who process more than $175,000 in annual Mastercard transaction volume and therefore do not or no longer qualify for the Mastercard Small Business Program will see their Mastercard Credit Rate or the applicable Mastercard Interchange Rate adjusted to reflect the regular interchange rates for their type and size of business.

If applicable, these changes will appear on your April or May statement (delivered in May or June 2025). To see what interchange rates may apply to your Account, kindly compare a previous statement (hard copy or online) to your April or May 2025 statement using the rate categories listed above. If you prefer to talk to us about how these increases may impact your Account, please call 1-800-363-1163 and we will walk you through the changes.

Merchants whose annual processing volumes are now either: (i) less than $300,000 in annual Visa transaction volume, or (ii) less than $175,000 in annual Mastercard transaction volume, based on the qualification period from October 1 to September 30, will qualify for the respective Visa and Mastercard Small Business Interchange programs, and will see the applicable interchange rates take effect on April 10, 2025 or May 1, 2025, as described above.

Note: Qualification for a small business interchange program can be reviewed at any time by a Payment Card Network or TD Merchant Solutions. The application of these rates follows a predetermined fee schedule which can be located on your TD Merchant Solutions Fee Schedule. To obtain an updated fee schedule, please contact us. At any time, merchants who exceed the annual transaction volume thresholds may no longer qualify for the Visa Small Merchant and the Mastercard Small Business programs and may have their Visa Credit and/or Mastercard Credit Rate or the Applicable Visa and/or Mastercard Interchange Rate adjusted to the appropriate rates for the merchant's size and type of business.

November 1, 2024 Rate Changes

New Small Business Program - Visa Credit and/or Mastercard Credit Rate and the Applicable Visa and/or Mastercard Interchange Rate

Effective November 1, 2024, TD Merchant Solutions is making changes to the Visa Credit and/or Mastercard Credit Rate and the Applicable Visa and/or Mastercard interchange rate to align with Payment Card Network changes to reduce fees for qualifying small businesses in Canada. Details as follows:

  • Merchants who qualify for the Visa Small Merchant program process less than $300,000 in annual Visa transaction volume
  • Merchants who qualify for the Mastercard Small Business program process less than $175,000 in annual Mastercard transaction volume.
  • Unqualified Merchants process above these amounts.
  • Merchants who choose to surcharge on Visa transactions may not qualify for these reduced rates.

Merchants who qualify will only see decreases to these rates. If applicable, this change will appear on your November 2024 statement (delivered in December 2024). To see what increases may apply to your Account, kindly compare a previous statement (hard copy or online) to your November 2024 statement using the categories listed below. If you prefer to talk to us about how these increases may impact your Account, please call 1-800-363-1163 and we will walk you through the changes.

Note: The Visa Credit and/or Mastercard Credit rate and the Applicable Visa and/or Mastercard interchange rate can be reviewed at any time by TD Merchant Solutions and at least once per year to ensure qualification by a Payment Card Network or TD Merchant Solutions. The application of these rates follows a predetermined fee schedule which can be located on your TD Merchant Solutions Fee Schedule. At any time after the above effective date (November 1, 2024), Merchants who exceed the annual transaction volume thresholds may no longer qualify for the Visa Small Merchant and the Mastercard Small Business programs and may have their Visa Credit and/or Mastercard Credit Rate fee return to the Merchant's previously applicable rate.

April 1, 2024 Rate Changes

TD Merchant Solutions – Non-Compliance

With recent changes to the Excise Tax Act (ETA), fees charged by Payment Card Networks (PCNs) for certain services are now subject to HST that is not recoverable by TD. This impacts the fees TD is charged by PCNs and passes through to all Merchants. Therefore, if not previously applied to your account, effective April 1, 2024, TD Merchant Solutions will pass through a corresponding increase to the PCN Non-Compliance Fees to you to reflect the recent ETA changes. If applicable, these charges will appear on your April 2024 statement (delivered in May 2024). Please see the TD Merchant Solutions Notices page/Non-Compliance Fee tab for updated rate details.

Non-Compliance Fees:

November 2023 Rate Changes

Effective November 1, 2023, TD Merchant Solutions is increasing some of its fees under the categories listed below to align with industry pricing. Most Merchants, if impacted, will only see increases to some of these fees. If applicable, these changes will appear on your November 2023 statement (delivered in December 2023).

To see what increases may apply to your Account, kindly compare a previous statement (hard copy or online) to your November statement using the categories listed below. If you prefer to talk to us about how these increases may impact your Account, please call 1-800-363-1163 (9 a.m. to 5 p.m., Monday to Friday) and we will walk you through the changes.

Visa Credit/Debit and/or Mastercard Credit/Debit Processing Fees:

Visa Credit/Debit and/or Mastercard CreditCredit/Debit Rate
Visa Credit/Debit and/or Mastercard Credit/Debit Discount Rate Adjustment Fee
Visa Credit/Debit and/or Mastercard Credit/Debit Interchange Rate Plus
Visa Credit/Debit and/or Mastercard Credit/Debit Assessment Fee
Visa Credit/Debit and/or Mastercard Credit/Debit Foreign Assessment Fee
Mastercard Acquirer License Fee
Credit Authorization Fee

Account Fees:

Monthly Service Fee
Payment Card Industry (PCI) Security Monthly Fee