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

  • FCRA (Fair Credit Reporting Act)

    The Fair Credit Reporting Act protects consumers from inaccurate information that may be found within credit reports.

    Learn More

  • MTE (Machine Transfer Entry)

    An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.

    Learn More