In a payment system, a fee charged by a party who receives transaction data and forwards it to a card issuer.
For purchases, the fee charged to the acquirer and paid to the issuer. Also known as "Interchange Reimbursement Fee".
A fee paid by the merchant to a card issuer for transactions that occur through the interchange network. The interchange fee is a percentage applied to each sale based on different criteria. Different interchange rates can apply within a single batch of sales transactions.
The interchange fee is a percentage applied to the money value of each transaction and is paid by the acquirer to the issuer to compensate for transaction-related costs. MasterCard and Visa establish interchange fee rates.
Servicing fees paid by acquirers to issuers for transaction costs. Visa/MasterCard establishes and periodically reviews interchange rates.
A fee the acquiring bank pays to the credit card-issuing bank in order to process a credit card transaction involving a card holder's account. This fee is regulated by MasterCard and Visa, and is a percentage of the total transaction amount.
The fee charged by Visa and MasterCard for each credit card transaction. This fee is part of the discount rate.
The amount paid by the Merchant bank to the cardholder's bank on each transaction. MasterCard International and Visa International independently establish interchange fees for their respective networks.
A fee paid by the acquiring bank/merchant bank to the issuing bank. The fee compensates the issuer for the time after settlement with the acquiring bank/merchant bank and before it recoups the settlement value from the cardholder
A fee paid between card issuers and acquirers when cardholders make transactions.
A fee paid by an acquirer to an issuer for transactions entered into interchange. The interchange fee is a percentage applied, according to Visa/MasterCard regulations, to the dollar value of each transaction. There are multiple categories of interchange, and Visa and MasterCard each have their own criteria for their own categories. A transaction must meet the specified criteria for a category in order for that category's rate to be applied. Each transaction is evaluated individually, so various interchange rates may apply within one batch of merchant transactions.
The amount paid by the merchant bank (acquirer) to the cardholder institution (issuer) on each sales transaction. Interchange rates vary according to the type of merchant (retail, travel and entertainment, mail order) and the method of processing (paper, EDC).
Fees paid by the acquirer to the issuer to compensate for transaction-related costs. VISA and MasterCard establish interchange fee rates.
Charge levied by the ATM/POS terminal owner against another institution whose customer has used that device. Fees vary by type of transaction activity: transfer, withdrawal, inquiry (lowest), and deposit (highest).
The fee that the Card Association charges the merchant to get the funds into his bank (merchant bank) and to get the billing information to the cardholder's bank (issuing bank). Interchange fees are based on following credit card regulations and capturing appropriate data including card swipe, address, and electronic signature as needed. These fees are also based on the timeliness of the settlement of transactions.
Interchange fee is a term used in commerce to describe fees charged to retailers and other merchants by an acquiring bank each time credit or debit cards, such as those issued by Visa or Master Card affiliated banks are used to pay for a purchase. Interchange fees have a complex pricing structure, which is based on the card brand, the type of credit or debit card, the type and size of the accepting merchant, and the type of transaction (e.g. online, in-store, phone order). Further complicating the rates schedules, interchange fees are typically a flat fee plus a percentage of the total purchase price (including taxes).