Transcribed

What is Interchange, again?

Customer's Account $100 Issuing Bank INTERCHANGE FEE Varied by card-type, merchant-type, transaction type -$2 ISSUING BANK The bank where the cutomer's credit card was issued VISA/MC Processor's Account -$0.11 -$1.50* ASSESSMENTS Fixed fee for using the VISA/Mastercard networks Merchant's Account Gateway $96.35 -$0.05

What is Interchange, again?

shared by rmmojado on Dec 28

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Interchange is the set of rules that define how much of a cut the issuing bank (the bank that issued the customers’ credit card, big issuing banks include Capital One and MBNA) gets to keep from the...

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Fee Fighters