Interchange

Interchange

The fee charged by Visa, Mastercard, or Discover to the Processor for the specific card type presented to the merchant and batched to the processor for payment. For example, Visa CPS rewards 1, interchange is 1.65% + $0.10 per item. The exact Interchange fee charged to the processor by the brands is effected by how the transaction is transacted (over the internet or face-to-face) and again the specific card type, which is set by the card issuing bank.

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