Access Westpac banking benefits.
Westpac has a long partnership with Retail NZ to support the growth of New Zealand’s retail industry provides our members with a range of special deals including:
- an all-in-one, low cost business banking option
- negotiated Merchant Service Fees
- a range of personal banking benefits.
Find out more about Westpac and their special deals for business and personal banking:
Merchant Service Fees for processing card transactions
Westpac offers negotiated pricing for processing card transactions, to Retail NZ members called Interchange Plus.
- A variable rate for the interchange fee that is set by the card schemes; and
- A separate combined fixed rate for all other scheme, switch and acquirer (Westpac) fees – this is the rate negotiated for Retail NZ members.
|Card present||Interchange + 0.28%|
|Card not present||Interchange + 0.35%|
More than $15k per month via a linked gateway
|Interchange + 0.80%|
Less than $15k per month via a linked gateway
|Interchange + 1.10%|
*Requires a Westpac settlement account to receive the negotiated Merchant Service Fee, due to Anti-money laundering (AML) requirements.
More information on interchange fees can be found here.
Further information, including terms and conditions and eligibility criteria, can be found here.