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

  • Business Day

    Refers to any weekday with the exception of federal holidays.

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  • Originator

    A company, individual or entity that initiates entries into the ACH network.

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