Interchange fee: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Amend wording.) |
imported>Doug Williamson (Add links.) |
||
| Line 14: | Line 14: | ||
* [[Credit]] | * [[Credit]] | ||
* [[Credit card]] | * [[Credit card]] | ||
* [[Cross-border interchange fee]] | |||
* [[Debit card]] | * [[Debit card]] | ||
* [[Emerging Payments Association]] | * [[Emerging Payments Association]] | ||
* [[Interchange Fee Regulation]] (IFR) | |||
* [[Pay]] | * [[Pay]] | ||
* [[Payment]] | * [[Payment]] | ||
* [[Payments and payment systems]] | * [[Payments and payment systems]] | ||
* [[Processing fee]] | |||
* [[PSOR]] | * [[PSOR]] | ||
* [[Receipt]] | * [[Receipt]] | ||
* [[Remittance]] | * [[Remittance]] | ||
* [[Scheme fee]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 23:39, 21 April 2023
Payments - cards - charges.
Interchange fees or charges relate to credit cards, debit cards, and other cards.
Interchange charges are levied by the merchant acquiring company (normally a bank or other financial institution that "buys” the transactions from the retailer at a discount).
They include transaction fees for debit cards and turnover fees for credit cards charged by the card acquirer that processes card payments on behalf of the retailer.
Interchange charges are often negotiable and depend on the volume of transactions, the average transaction size, the method of processing and the credit quality of the transactions.
