ASB Bank

ASB Bank is a New Zealand bank that describes itself as an acquiring bank and offers merchant facilities for businesses that take cards. The services listed are card acquiring, online acquiring and EFTPOS.

Facilities Merchants can accept cards online or in person using their own device. Supported card schemes are Visa, Mastercard and UnionPay. The bank provides the acquiring relationship, while the terminal itself is the merchant's own equipment, so hardware and terminal-provider charges are agreed separately.

Pricing Pricing is tailored and follows an Interchange Plus structure, which means the merchant pays the card network's interchange fee plus a bank margin, instead of one blended rate. The bank states that it applies no ASB fee to ordinary inserted or swiped EFTPOS transactions where the customer chooses a cheque or savings account. Other provider charges and Online EFTPOS are priced differently.

Who it suits Interchange Plus tends to suit merchants with enough volume to want transparent cost breakdowns, and businesses with a high share of domestic debit transactions. Merchants should request a quote that shows the margin, scheme fees and any online-acquiring charges before deciding.