What Are Interchange Rates?
The answer to that is DEFINITELY complicated!
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card based transactions. Usually for transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank").
Interchange fees have a complex pricing structure, which is based on the card brand, regions or jurisdictions, the type of credit or debit card, the type and size of the accepting merchant, and the type of transaction (e.g. online, in-store, phone order, whether the card is present for the transaction, etc.).
Further complicating the rate schedules, interchange fees are typically a flat fee plus a percentage of the total purchase price (including taxes). In the United States, the fee averages approximately 2%-3% of transaction value. In the EU, interchange fees are capped to 0.3% of the transaction for credit cards and to 0.2% for debit cards.
Click on the links below to access the interchange rates for the different card networks
VISA
MasterCard
American Express
Discover (Discover seems to like to keep their rates secret. CLICK HERE for rates from 2012)
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card based transactions. Usually for transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank").
Interchange fees have a complex pricing structure, which is based on the card brand, regions or jurisdictions, the type of credit or debit card, the type and size of the accepting merchant, and the type of transaction (e.g. online, in-store, phone order, whether the card is present for the transaction, etc.).
Further complicating the rate schedules, interchange fees are typically a flat fee plus a percentage of the total purchase price (including taxes). In the United States, the fee averages approximately 2%-3% of transaction value. In the EU, interchange fees are capped to 0.3% of the transaction for credit cards and to 0.2% for debit cards.
Click on the links below to access the interchange rates for the different card networks
VISA
MasterCard
American Express
Discover (Discover seems to like to keep their rates secret. CLICK HERE for rates from 2012)
