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

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    The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...

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  • TCPA (Telephone Consumer Protection Act)

    The Telephone Consumer Protection Act limits the amount of telemarketing and overall use of automated phone calls. The act applies to automated phone calls (including pre-recorded messages),...

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