How does interchange pricing work?

How does interchange pricing work?

Interchange pricing provides a single transaction fee that is unaffected by how you process the card or the associated risk of the transaction. We calculate the fee you pay per transaction using basis points, which we agree with you when you choose to use interchange pricing.

Note: One basis point is equal to 0.01%.

You also pay an interchange fee for each brand of card you want to accept. Each card brand dictates its own interchange fee.

We calculate your card transaction fees once per calendar month using your basis points. We deduct them with your interchange fees and your account fees from the money funded to your bank account.

Modified on: Fri, 26 Oct, 2018 at 11:19 AM