For issuers
Interchange revenue assurance, transaction by transaction
Recivr recalculates what every transaction was entitled to earn in interchange and what it cost in scheme fees — from the schemes' own rules, dated to the day it cleared. Then it sets that against what you were paid and what you were billed, and names every difference.
- Calculated from the published Visa and Mastercard rules, not read back from the system that applied them
- Interchange earned and scheme fees paid, on the same transaction
- Transaction metadata only — no PAN and no cardholder data
Interchange earned per day
Earned
€1.176M
on 2.41M transactions
Scheme fees
€182.4k
priced per txn
Net
€993.6k
before the statement
Every invoice line accounted for — priced, amortised, or flagged as needing data.
Differences found
interchange earned but not received
- Region misattributed€6,240
- Commercial priced as consumer€4,180
- Authentication data absent€3,110
Every number here is measured rather than asserted. We reprice a period you already hold the documents for, and show you the difference transaction by transaction — before anything is signed and before anything is integrated.
The five questions
Five questions a month-end close cannot answer.
Every one of them is answerable from data you already hold — just not by any system that currently holds it.
What should this transaction have earned?
How it gets answered today
The rate your processor applied, reported back to you by the system that applied it.
With Recivr
Recalculated from the scheme rules in force on the day it cleared, one transaction at a time.
What did it actually earn, and what did it cost?
How it gets answered today
A settled amount and an invoice total, weeks apart, at grains that never meet.
With Recivr
Both sit on the transaction: interchange received, and every scheme fee that applied to it.
Why is there a difference?
How it gets answered today
A yield that moved a few basis points, with no line item and no reason attached to it.
With Recivr
The designator, the rate and the field that drove it — on the transaction that carried the difference.
What changed, and what will it cost us?
How it gets answered today
A release note in April, and an invoice that reflects it three months later.
With Recivr
Every release and bulletin dated, and your own book repriced on both sides of it.
Where are we losing money?
How it gets answered today
Reconciled to the total — which is precisely where leakage survives.
With Recivr
Ranked by cause, in euros, with the transactions behind each one listed underneath it.
Interchange, per transaction, in real time
Every transaction earns a rate set by the scheme's rules. Recivr works out that rate as the transaction arrives and tells you what it is worth — in about 25 milliseconds, not at month end.
Priced on arrival
…7746976156
Mastercard · consumer credit · MCC 5812
€142.60
INTRA NON_EEA
Interchange earned
IRD EW · 1.150000%
€1.639900
Scheme fees
6 lines applied
−€0.038400
Net to you
before the statement exists
€1.601500
Scheme fees on the same transaction
The schemes charge you for a great deal more than interchange. Recivr prices every fee that applies, and spreads the monthly, quarterly and annual ones down to the transaction too. Nothing is left in a bucket you cannot attribute.
Scheme fees on that transaction
Issuer licence & assessment
per transaction
€0.017825
Authorisation switch
per transaction
€0.008400
Fraud scoring
optional service
€0.004200
Authentication · 3DS
per transaction
€0.003900
Tokenisation
per transaction
€0.002100
Account updater
monthly · amortised
€0.001975
Total
€0.038400
2.69 bps of the sale
Monthly & annual fees
2 of 6
amortised per txn
Fees billed monthly, quarterly and annually are spread down to the transaction, so nothing sits in a bucket you cannot attribute.
Reconciled at both grains
Interchange arrives in the clearing files transaction by transaction, so we match it there. Scheme fees arrive as billing lines, so we match those line by line — and open any line to the transactions that produced it. Nothing is a blended total.
Invoice reconciliation
Total invoiced
€10,596.83
56 fee lines
Compared
27 lines
€7,487.95 of it
Difference
€132.28
across 27 fees
- Compared27 lines · €7,487.95
- Monthly & annual13 lines · €2,145.00
- Not yet assigned11 lines · €192.10
- Other states5 lines · €771.78
| Fee | Invoiced | Calculated | Δ |
|---|---|---|---|
Issuer licence & assessment ISS·LIC | €4,182.60 | €4,182.60 | — |
Authorisation switch ISS·AUTH | €1,916.44 | €1,877.20 | −39.24 |
Fraud scoring · optional service ISS·DI | €1,204.12 | €1,111.08 | −93.04 |
Digital commerce service fee VI·DCSF | €938.90 | €938.90 | — |
Open any line and the transactions that produced it are underneath it.
When the rules change, the book is repriced with them
Visa and Mastercard publish in April and October, with bulletins in between. Every version is held dated, so the effect of a release on your own volume is a number before it is an invoice — and any past period can be recalculated against the rule that was actually in force at the time.
A rule change, priced against your book
Interregional consumer credit moves from IRD 75 to IRD EW
effective 10 Apr 2026 · 4.2% of your volume
Before
€1.184M
per month
After
€1.176M
per month
Effect
−€8,240
per month
Aug 2025 – Mar 2026
priced on the rate in force then
IRD 75 · 1.850%
Apr 2026 onward
priced on the release
IRD EW · 1.150%
Oct 2026 release
not yet effective
modelled
Any period can be repriced against the rule version that was in force then — or against one that has not taken effect yet.
Where the money comes from
Your interchange arrives from particular acquirers, merchants, card products and regions. All of them are on the transaction, so all of them can be reported on.
Interchange by acquirer
- Meridian Paymentsacquirer€412.8k
- Calder Acquiringacquirer€268.4k
- Bluewater MSacquirer€191.2k
- Ostrava PSPacquirer€96.3k
- 41 otherslong tail€207.7k
The same breakdown by merchant, MCC, card product and region — because they are all on the transaction.
What you get
Everything needed to price, prove and defend the economics of a card portfolio.
One engine behind all of it, so a number in the dashboard and a number in the API are the same number.
Per-transaction cost modelling
Network fees and interchange resolved by region, scheme, card product, funding source and MCC — for the transaction in front of you, never an average.
Invoice reconciliation
Every scheme invoice matched line by line, and every line opened to the transactions that produced it.
Historical invoice analytics
Costs, trends and benchmarks across every statement you have received, all put on one basis so periods can be compared.
Rules intelligence
Scheme and interchange rules held as data rather than as documents, dated, and mapped to the transactions they price.
Rules monitoring and updates
April and October releases and the bulletins between them, tracked as they publish, with the effect on your book in euros before they take effect.
Fee anomaly detection
Overcharges, leakage and costs that appear where nothing changed — surfaced against the calculated position rather than searched for by hand.
Transaction economics
Revenue, cost and net on the same transaction, so a portfolio can be judged on what it makes rather than on what it moves.
Real-time API
The same engine inside the authorization window, so the cost and the yield of a transaction exist while it is still a transaction.
One screen
All of it, in one place
Interchange earned, scheme fees paid, the invoice matched against both, and where it all came from — off the same priced transactions, so the views cannot quietly disagree.
Interchange earned
€1.176M
Scheme fees
€182.4k
Net
€993.6k
Invoice lines
56 of 56
Interchange by acquirer
- Meridian Paymentsacquirer€412.8k
- Calder Acquiringacquirer€268.4k
- Bluewater MSacquirer€191.2k
- Ostrava PSPacquirer€96.3k
- 41 otherslong tail€207.7k
The same breakdown by merchant, MCC, card product and region — because they are all on the transaction.
Scheme fees on that transaction
Issuer licence & assessment
per transaction
€0.017825
Authorisation switch
per transaction
€0.008400
Fraud scoring
optional service
€0.004200
Authentication · 3DS
per transaction
€0.003900
Tokenisation
per transaction
€0.002100
Account updater
monthly · amortised
€0.001975
Total
€0.038400
2.69 bps of the sale
Monthly & annual fees
2 of 6
amortised per txn
Fees billed monthly, quarterly and annually are spread down to the transaction, so nothing sits in a bucket you cannot attribute.
Interchange matched per transaction
| Transaction | In the clearing file | We calculated | Δ |
|---|---|---|---|
…204817€412.80 Intra-EEA debit · 0.200%→Interregional · 1.150% | €0.8256 | €4.7472 | +3.9216 |
…773051€142.60 Consumer credit · 0.300%→Commercial · 1.500% | €0.4278 | €2.1390 | +1.7112 |
…519624€256.30 Consumer debit · 0.200%→Consumer credit · 0.300% | €0.5126 | €0.7689 | +0.2563 |
…340992€78.15 Intra-EEA debit · 0.200% | €0.1563 | €0.1563 | — |
The rate that was applied, and the one that should have been — against the transaction that carried the difference.
How it works
You already have everything we need
Two files and a month of transactions. No integration until after you have seen the number.
What you send
- Your cleared transactions
- The Visa and Mastercard invoices
- The clearing and interchange advice
What Recivr adds
The scheme rules, dated, and an engine that applies them one transaction at a time
Visa and Mastercard, UK and EU, every rate carrying the day it came into force — so a recalculation uses the rule that applied then, not the one that applies now.
What comes back
- Interchange and scheme fees on every transaction
- The invoice matched to them, cent to cent
- Every difference named, with the rule behind it
- The breakdown by acquirer, merchant, product and region
What we read
Cleared transactions
CSV, XLSX or Parquet — whatever your processor already exports. We normalise it rather than asking you to.
Clearing detail
The per-transaction interchange records that arrive with settlement, in whichever report your processor provides.
Scheme statements
The monthly Visa and Mastercard invoices as they were issued. PDF is fine.
The rules
Ours. Both schemes, UK and EU, every rate carrying its effective date. You send nothing for this one.
Why not the systems you have
The calculation is easy. Being right is not.
Three things make this hard to do with what you already own, and none of them get easier with headcount.
Your processor's report comes out of the system that applied the rate. It cannot disagree with itself. Checking it takes a second calculation, built from the schemes' rules rather than from the same ledger.
A reconciliation platform matches what you were billed against what you booked. Neither of those numbers is what you were entitled to — so the gap between billed and entitled never appears on either side of the match.
The rules change every April and October, with bulletins in between. A recalculation is only right if it uses the rate that was in force on the clearing day, which means holding every version of every rule, dated.
No cardholder data
Transaction metadata only. No PAN, no CVV, no cardholder name — none of it is required, and none of it is accepted.
Read-only, one direction
Recivr calculates and reports. It never writes back into your systems and never touches settlement.
Isolated per customer
Dedicated storage with separate encryption keys, and tenant isolation enforced in the database rather than in the application.
Retention you set
Configurable, defaulting to 90 days with automatic purge. A data processing agreement is available before any file moves.
FAQ
Issuer questions
How do you know what a transaction should have earned?
The schemes publish the rules. The rate depends on the card product, the funding source, the two regions, the merchant category and the interchange designator — and Recivr holds all of that, dated. Every transaction is recalculated against the rate that was in force on the day it cleared.
How accurate is it?
On the acquiring side the schemes publish a clearing report we can be checked against. Recivr matched it to within 0.25% across every fully covered settlement day — 99.7%. Same engine, same rules, on the issuer side.
What do you need from us?
One month of cleared transactions and the scheme invoice or interchange advice you already receive. No cardholder data and no PAN. Most issuers can pull both from their processor without a project.
Our processor already reports this. Why do we need you?
Their report comes from the system that applied the rate, so it cannot disagree with itself. Checking it needs a second calculation from the schemes' own rules. That is the same reason revenue assurance is bought from a third party everywhere else in a bank.
How is this different from the reconciliation platform we already run?
A reconciliation platform matches two numbers you already hold: what the scheme billed and what you booked. Recivr produces a third — what the rules say the transaction was entitled to earn and liable to be charged — and reconciles against that. The difference between billed and entitled is the money, and no matching engine can find it, because neither side of its match contains it. The two are complements, not substitutes: keep the matching, add the calculation.
Can you reprice history after a rule change?
Yes. Every rate and rule is held as dated data, so any period can be recalculated against the version that was in force then — or against a version that has not taken effect yet. That is how the effect of an April or October release on your own book is known in euros before the first invoice carrying it arrives.
What data do you need, and what do you never take?
Your cleared transactions and the scheme documents you already receive — the clearing detail and the monthly Visa and Mastercard statements. No PAN, no CVV, no cardholder name, no PIN block. Nothing is written back to your systems and nothing touches settlement. Retention is configurable and defaults to 90 days with automatic purge.
Should we decline transactions that earn less interchange?
No. You earn interchange by approving, so almost every approval is worth taking. What Recivr shows is the other side of it — a decline is interchange you did not earn, priced, so risk rules can be weighed against what they cost. The levers that follow are portfolio ones: product mix, BIN setup, program pricing.
Which schemes and regions?
Visa and Mastercard, UK and EU. Capped domestic and intra-EEA rates, uncapped commercial and interregional rates, and the per-country tables. April and October releases are mapped in before they take effect.
How long until we see something?
Send the file and we return the priced and matched position. No integration first.
The rest of the platform
One engine, several surfaces.
Every product below runs off the same priced transaction events.
Real-time cost engine
Interchange and every scheme fee calculated in under 50 ms, at authorization, capture, refund and chargeback.
Pricing management
Set how each merchant is priced by region, card type, amount and currency, and see the margin on every transaction.
Merchant analytics
Scheme cost in basis points by merchant, MCC, card product and region, so under-priced merchants stand out.
Invoice reconciliation
Visa and Mastercard invoices matched line by line against calculated fees, with every difference traced to its rule.
Interchange reconciliation
The schemes' own clearing reports reconciled against your transactions, with a daily deviation in basis points.
Rule change monitoring
Visa and Mastercard releases and bulletins mapped in with effective dates, so you see what each change costs before it is billed.
Send us a month of data
One month of cleared transactions and the matching invoice. We return every transaction priced and every difference named — before there is an integration, a contract or a project.