Interchange fee: Difference between revisions
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imported>Doug Williamson (Add links.) |
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''Payments - cards - charges.'' | ''Payments - cards - charges.'' | ||
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Interchange fees or charges relate to credit cards, debit cards, and other cards. | Interchange fees or charges relate to credit cards, debit cards, and other cards. | ||
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[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category: | [[Category:Financial_products_and_markets]] | ||
[[Category:Identify_and_assess_risks]] | [[Category:Identify_and_assess_risks]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
[[Category: | [[Category:The_business_context]] | ||
Revision as of 23:07, 29 October 2023
Payments - cards - charges.
(IF).
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.
