Merchants are all painfully aware of the fact they’re charged fees on the card transaction they put through, but many don’t understand what those fees are made up of. While those fees contain a number of different components, the largest portion is made up of the interchange fee. Interchange fees are charged on every single credit card transaction regardless of who a merchant partners with for their payment processing, so it’s important to understand at least the basics of what they are and how they’re calculated.
The Basics of Interchange Fees – What They Are, What They Cover, and How They’re Calculated
