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Interchange Fee Meaning

A small fee paid by a merchant's bank (the acquirer) to a cardholder's bank (the issuer) for every credit or debit card transaction. This fee is meant to cover the costs of processing the payment, the risk of fraud, and the cost of the credit "grace period" provided to the customer.

While the merchant doesn't pay the interchange fee directly, it is usually the largest part of the "merchant discount rate" (the total fee a merchant pays for accepting a card). These fees vary depending on the type of card used (e.g., rewards cards have higher fees) and the industry of the merchant.

Interchange fees are a major source of revenue for banks and are a key reason why they offer rewards like "cashback" to cardholders.

In recent years, many regions (like the EU) have introduced caps on these fees to lower costs for small businesses, sparking a debate between banks and retailers over who should pay for the cost of the payment network.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

Additional notice to UK visitors: This website and associated communications are not intended to constitute a financial promotion under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and related guidance. Access to services provided by Finery Markets is limited to regulated entities, professional clients and eligible counterparties as set out by the Financial Conduct Authority. UK users are not permitted to use this website for the services of Finery Markets if they don't fall within these categories.