The Till School
The terminal · Course · Lesson 04
04

Blended, IC+ and IC++, and why the name matters

The same provider can quote you the same business three ways. Only one of them lets you see what changed when your bill goes up.

Module
2
What we count
Blended pricing gives you one rate for everything. IC+ separates…
Checked
2 Sep 2026
What we are counting

Blended pricing gives you one rate for everything.

Blended pricing gives you one rate for everything. IC+ separates interchange. IC++ separates interchange and scheme fees, leaving the markup visible on its own.

3
pricing structures the regulator names for card acquiring: blended, IC+ and IC++
PSR, policy statement PS22/2 · checked 2 Sep 2026
9 Jun 2016
date the IFR business rules on unblending and merchant information took effect
PSR, the Interchange Fee Regulations · checked 2 Sep 2026
How it works

Three things to hold on to.

  1. Under blended pricing a rise in scheme fees and a rise in your provider's margin look identical on the statement.
  2. The regulator's own remedies work in these three categories, which tells you they are the real dividing lines in the market.
  3. Acquirers must give merchants information about the cost of accepting different brands and categories of cards. That rule has been in force since 9 June 2016.
Task before opening time

Ask your provider, in writing, for an IC++ breakdown of last month. The answer, or the silence, tells you what kind of contract you are in.

Reference

Three ways the same deal is quoted

One business, one card mix, three quotes. What changes between them is not the price. It is how much of the price you are allowed to see.

ModelWhat the statement showsWhat moves without warningSuits
BlendedOne percentage for everythingEverything inside itNobody who wants to compare
Interchange plus, IC+Interchange separately, then the restScheme fees, hidden inside “the rest”Most small merchants
Interchange plus plus, IC++Interchange, scheme fees and margin, splitOnly interchange and scheme feesAnyone renewing a contract
PSR, MR22/1.10 · last read 4 Sep 2026. These figures are set by regulation, not by your provider, so this table changes only when the rules change.