Acquiring
Interchange
The fee paid by the acquirer to the issuer on every card transaction, set by the schemes.
Interchange is the biggest component of card-processing cost. Visa and Mastercard publish hundreds of interchange categories that vary by region, card type (consumer, commercial, prepaid), channel (card-present vs CNP), authentication (3DS vs not), MCC, and ticket size. Interchange-plus pricing passes interchange through transparently with a fixed markup on top.
Related terms
Fees charged by Visa and Mastercard (or another scheme) to acquirers and issuers on every transaction.
Transparent acquirer pricing model that passes interchange and scheme fees through at cost with a fixed processor markup on top.
A single flat rate (e.g. 2.9% + 30¢) charged on all card transactions regardless of underlying interchange.
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