Payment Glossary

Interchange

Interchange is a small fee paid by a merchant’s bank (acquirer) to a cardholder’s bank (issuer) to compensate the issuer for the value and benefits that merchants receive when they accept electronic payments.

Related Terms

  • Chargeback (Card Processing)

    A chargeback is a transaction that is returned by the card issuer to a merchant’s acquirer bank because of a dispute, processing or point-of-sale error, or fraudulent...

    Learn More
  • Hosted Tokenization

    Hosted tokenization enables payments inside of software applications to be processed without exposing the actual payment information, such as a credit card number. Learn More

    Learn More