Changes in Swedbank Payment Cards Servicing agreement
Dear customer,
Thank you for having Swedbank as your partner in processing card based payments.
The changes in the Payment Cards Servicing agreement are mainly stemmed from the new regulation on interchange fees
for card-based payment transactions (EU 2015/751; hereinafter – the Regulation), that provides new rules in the area of
payment cards acceptance at merchants’ points of sale, both for the benefit of merchants and customers who pay there. We
are informing you that Swedbank AS (hereinafter: Bank) will change unilaterally Payment Cards Servicing agreement from
June 9th 2016 as follows:
• Terms and Conditions for Payment Card Servicing will be replaced fully and current card groups will be
changed;
• new card groups are provided in an annex to this letter of notice below, but current pricing will remain the
same.
• Instruction on Security Elements and Acceptance of Payment Cards will be replaced fully;
• Should you use Bank’s rental terminals, then
• Terms and Conditions for Terminal Rental will be replaced fully;
• Terminal Rental agreement will be considered to be a separate agreement (currently it is as an Annex to
Payment Card Servicing Agreement).
Overview of amendments stemmed from Regulation are:
1.Pricing presentation for payment card servicing and disclosure
• Card groups currently presented in valid Payment Cards Servicing agreement will be changed by the Bank by un
blending them to new card groups as required by the Regulation. You can find the table with current card groups and
new unblended card groups in an annex to this letter of notice that you can find below.
Please note that Commission fees presented in current Payment Cards Servicing agreement will remain the same.
• Commission fees include different cost components, including interchange fees and schema fees.
Indicative values of interchange fees and schema fees will be available on the Banks website in a menu point
Servicing of Payment Cards and exact values will be presented in the monthly point of sale and transaction based
report.
• If you would like to see the exact interchange fees and schema fees you should contact the Bank and order a report
mentioned above.
Report will be generated on the 10th day of the month in an XML format and it is free of charge for you.
2.Main changes related to card payment acceptance rules
Some card acceptance practices in relation to EU payment cards will be improved and some restrictions removed as from the
date mentioned above:
• The merchants may request changes to existing Payment Cards Servicing agreement if they would like to choose
which payment cards they want to accept or not.
Please note that those who would like to refuse accepting certain payment cards should contact the Bank in order to get further instructions in regard to that right and amend existing Payment Cards Servicing agreement accordingly
prior to it.
• If the payer (card holder) has several payment cards, the merchant may ask the payer to use the card most favourable
to the merchant.
Please note that most favourable card to the merchant mentioned is considered to be the consumer cards with
capped interchange fees under Regulation.
3.Changes related to the layout and structure of the agreement
If you are using Bank’s rental terminals, then Terminal Rental agreement will be considered to be a separate agreement as
from the date mentioned above.
As from the date mentioned above afore mentioned annex will have two fold purposes:
• it will remain as an annex to Payment Card Servicing agreement with regard to details related to specific point
of sale under Payment Card Servicing agreement (f.e. contact details, location of point of sale and merchants
economic activities at the point of sale etc),
• it will be as a Terminal Rental agreement with regard to details related to rented terminals under Terminal
Rental agreement (f.e. contact details, location of point of sale, renter terminals (incl the quantity), rental
period, rental fees etc).
Please note that all details provided in afore mentioned annex will remain the same (including terminal types, point
of sale related information, etc.) and new Terms and Conditions for Terminal Rental will apply to Terminal Rental agreement
as from the date mentioned above.
4.Other changes
• Instruction on Security Elements and Acceptance of Payment Cards, which forms an integral part of Payment Card
Servicing agreement, is amended as from the date mentioned above.
Please note that this document is mandatory to follow and must also be introduced to your employees who are
working with card payment acceptance.
• As from the date mentioned above, receipts can be stored either in writing or in a format that can be reproduced in
writing.
Please note that you should still store the receipts at least 2 (two) years as from conducting the transaction.
New terms and conditions are available at the Bank’s service units and on Bank’s website https://www.swedbank.ee/business/useful/important/legislation.
You have the right to terminate Payment Cards Servicing agreement, if you do not agree with the amendments described
herein within one month from the date of current notification. If you do not terminate the agreement within one month it
shall be deemed that you have agreed with the amendments.
If you have any questions, please don’t hesitate to contact your client manager or our consultation center at
+372 6132 222.
Annex
Existing card groups
New card groups
DEBIT CARD ISSUED BY SWEDBANK
Swedbank Consumer Debit & Prepaid (ALL BRANDS)
CREDIT CARD ISSUED BY SWEDBANK
Swedbank Consumer Credit (ALL BRANDS)
Swedbank Commercial (ALL BRANDS)
Domestic MasterCard Consumer Debit (MASTERCARD, MASTERCARD DEBIT, MAESTRO)
EU MAESTRO/MASTERCARD DEBIT CARD
Domestic MasterCard Consumer Prepaid (MASTERCARD, MASTERCARD DEBIT, MAESTRO)
EU MasterCard Consumer Debit (MASTERCARD, MASTERCARD DEBIT, MAESTRO)
EU MasterCard Consumer Prepaid (MASTERCARD, MASTERCARD DEBIT, MAESTRO)
EU MASTERCARD CREDIT CARD
Domestic MasterCard Consumer Credit (MASTERCARD)
EU MasterCard Consumer Credit (MASTERCARD)
Domestic VISA Consumer Debit (VISA, ELECTRON, VPAY)
EU VISA DEBIT CARD/VISA ELECTRON
Domestic VISA Consumer Prepaid (VISA, ELECTRON, VPAY)
EU VISA Consumer Debit (VISA, ELECTRON, VPAY)
EU VISA Consumer Prepaid (VISA, ELECTRON, VPAY)
EU VISA CREDIT CARD
Domestic VISA Consumer Credit (VISA, ELECTRON)
EU VISA Consumer Credit (VISA, ELECTRON)
EU MASTERCARD BUSINESS DEBIT AND
CREDIT CARD
Domestic MasterCard Commercial (MASTERCARD)
EU VISA BUSINESS DEBIT AND CREDIT
CARD
Domestic VISA Commercial (VISA, ELECTRON)
NON EU MAESTRO/MASTERCARD DEBIT
CARD
Non-EU MasterCard Consumer Debit & Prepaid (MASTERCARD, MASTERCARD DEBIT,
MAESTRO)
NON EU MASTERCARD CREDIT CARD /
BUSINESS DEBIT AND CREDIT CARD
Non-EU MasterCard Consumer Credit (MASTERCARD)
EU MasterCard Commercial (MASTERCARD)
EU VISA Commercial (VISA, ELECTRON)
Non-EU MasterCard Commercial (MASTERCARD)
NON EU VISA DEBIT CARD/VISA ELECTRON Non-EU VISA Consumer Debit & Prepaid (VISA, ELECTRON, VPAY)
NON EU VISA CREDIT CARD/BUSINESS
DEBIT AND CREDIT CARD
Non-EU VISA Consumer Credit (VISA, ELECTRON)
Non-EU VISA Commercial (VISA, ELECTRON)