interchange plus pricing

The ERR Pricing Trap

In recent weeks I have personally spoken with numerous merchants who want to try and understand their monthly statement better. It seems like some providers of credit card processing have come up with a game: “confuse the merchant”. Different combinations of low rates and high fees or vice versa. One pricing structure that I have …

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Industry Terms: Interchange

  Interchange Interchange is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card based transactions. Usually it is a fee that a merchant’s bank (the “acquiring bank”) pays a customer’s bank (the “issuing bank”). In a credit card or debit card transaction, the card-issuing bank in a …

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