Interchange

Interchange is a small fee paid by a merchant’s bank (acquirer) to a cardholder’s bank (issuer) to compensate the issuer for the value and benefits that merchants receive when they accept electronic payments.

Related Terms

  • DSO (Day Sales Outstanding)

    The total accounts receivables divided by average daily sales.

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  • SSL (Secure Sockets Layer)

    SSL, proceeded by TLS, is a security protocol that encrypts data and enabled authentication between applications over a network.

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