Bookmark
home about us contact us faq sitemap
home
our products
Standard
Bad Credit
Speciality
Instant Approval
Merchant Accounts
Glossary
Newsletter SIGNUP
subscribe
credit cards faq/glossary
The most common questions asked about Credits Cards.
read more INFORMATION
Credit Card Glossary
a b c d e f g h i j k l m n o p q r s t u v w x y z
I
 
Interchange Fee
definition
What does Interchange Fee mean?

In credit card transactions, an interchange fee is an amount payable by the acquirer to the issuer. In other words, the acquirer is that banking institution which represents the merchant, while the issuer is considered the banking institution which issued your credit card. However, there is a great difference between a fee paid for those purchases which involve only online transactions and the ones where the POS terminal is used, where the online transactions will charge a much higher interchange fee. Usually the interchange fee does not exceed 3% of the purchase’s total amount.
Interest Rate Cap Next Word
Previous Word Inactive Account
  To Main: I