What is interchange

The 3 Most Important Things to Know About Interchange Fees

When you’re looking for a credit card processor you’ll hear about different pricing structures such as tiered pricing, flat-rate pricing and interchange plus pricing. We want to pull back the curtain on a piece of interchange plus pricing. If you already have a processor, you might know about interchange or interchange plus pricing but what we’re going to talk about today is exactly what the interchange fee is. Whether this information is familiar or new, we hope it will help you make a smart decision about choosing a payment processor. 1. Interchange Is Visa’s® Cut (and MasterCard’s® and Discover’s® and Amex’s®… ) To put it simply, interchange is the fee that Visa, MasterCard, Discover, etc. take out of the transaction. It’s the same for every single merchant. All of them. Everywhere. So, when you see an interchange fee think to yourself “Visa’s cut.” These fees are standardized and the sandwich…

Read Full Post