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

  • Mobile Payments

    Mobile payments allow for anytime, anywhere payments using a mobile phone, tablet, and more. Learn More

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  • WEB (Internet Initiated Entries)

    A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

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