CPS Rewards 1 is a Visa interchange category that is used to calculate fees for swiped reward card transactions.
Interchange rate & fee: 1.65% + $0.10
Also known as:
REWARDS 1, VI-CPS/REWARDS 1, CPS REWARDS 1
CPS Rewards 1 is a Visa interchange category that is used to calculate the interchange fee for swiped transactions involving a credit card that produces rewards for the cardholder, such as cash back, or airline miles.
The CPS Rewards 1 interchange category will apply under the following conditions:
- Card type is a Visa Consumer Rewards, Signature, or Infinite
- Card is swiped and the customer’s signature is obtained
- The authorization for the transaction is settled within 24-hours
Typical bundled qualification:
Although there are no standards, many processors qualify the Rewards 1 interchange category as described below.
- Businesses that swipe most transactions: mid-qualified, or non-qualified rate
- Businesses that key-in most transactions: Qualified rate