Interchange Fee
/ˈɪntərˌtʃeɪndʒ fiː/
Definitions
- (n.) A fee paid by a merchant's bank to a cardholder's bank for handling a credit or debit card transaction.
The merchant was charged an interchange fee for each credit card payment processed.
Forms
- interchange fee
- interchange fees
Related terms
See also
Commentary
Interchange fees are typically set by card networks and are a significant component of card transaction costs; clarity and specificity in contracts concerning these fees is vital.
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.