Interchange Agreement
/ˈɪntərˌtʃeɪndʒ əˈɡriːmənt/
Definitions
- (n.) A contractual arrangement between payment card issuers and acquirers governing the exchange of transaction fees and processing rules.
The banks signed an interchange agreement to standardize fees for credit card transactions.
Forms
- interchange agreement
- interchange agreements
Related terms
See also
Commentary
Interchange agreements are critical in payment processing systems, regulating fee structures and responsibilities between financial institutions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.