As your payments partner, we are committed to keeping you up-to-date with industry changes and card brand developments.
The cashback service allows cardholders to request cash from a merchant at a point of sale (POS) when purchasing goods or services in a card-present environment.
Effective 13 June 2020, Visa will amend the purchase limits in Switzerland as follows:
- Minimum: CHF 20
- Maximum: CHF 300
While this brings the Visa maximum limit in line with that of Mastercard (already at CHF 300), the raising of the minimum amount by Visa has not been mirrored by Mastercard at this time – the Mastercard minimum cashback amount remains at CHF 10.
Check your terminal provider is aware of this specification, and ensure your point of sales team is brought up to date on the changes.