Association Endorsed Opportunity for Issuers to Earn Additional Revenue from Cross-border and Cross-currency Transactions
The Optional Issuer Fee (OIF) is a per-transaction charges that Issuers apply to cardholders who conduct transactions outside of Canada. Simply put, this is an Association endorsed opportunity for Issuers to levy an additional fee to their cardholders for cross-border, cross-currency transactions i.e. transactions taking place outside of Canada in currencies other than Canadian dollars.
Everlink clients will now be able to earn additional revenue through the use of the Optional Issuer Fee (OIF), which is shared with Everlink in return for compliance work, updating the network interface and settlement system and general management of the clearing and settlement process.