Any bank or financial institution can participate in the bilateral interchange program. Visa has partnered with Boost to make it seamless. Please contact Boost directly or reach out to your Visa Account Executive.
There are over 20 rates to support varying scenarios offering extensive pricing flexibility.
Custom rates (also called bilateral or proprietary) are typically deployed to attract non-card accepting suppliers and to “save or rescue” commercial card volume that has attritted largely due to the cost of acceptance.
Custom rates are determined by the mutual agreement between the bank or financial institution/buyer and supplier. Boost coordinates all the components of the cost and facilitates the payments between the bank or financial institution/buyer and supplier at the agreed interchange rate which is transparent to issuers.
Custom rates are available exclusively for domestic (U.S.) commercial card payments to merchants within specific MCCs.
There are no BIN restrictions. Once the bank or financial institution is on-boarded, the Boost platform manages all interchange assignment through its acquirers to apply the custom rates.