Basically, Interchange fees are charged by banks for using a credit card. These rates do not change and are included to your processing bill. Credit card processors do not make up interchange rates. VISA, Mastercard, Amex, Discover regulates interchange rates. An interchange rate is a fee charged by banks that covers the cost of handling and credit risk inherent […]
Issuer/Issuing Bank Issuer/Issuing Bank: A financial institution that provides payment card services to card holders. These companies are licensed by VISA and Mastercard. View Glossary and Payment Processing Terms
Interchange Fee Interchange Fee: The cost of payment card transaction to be paid to card issuer. Visa and Mastercard determine interchange fees and rates. View Glossary and Payment Processing Terms
Interchange Interchange: System operated to transact electronic payments for credit cards and bank cards. View Glossary and Payment Processing Terms