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The issuing bank's fee is called the interchange fee.
"They only focus on the costs that they see – that is the interchange fee," says Aufseeser.
The bank forwards about $1.80 — the interchange fee — to the cardholder's bank.
The "interchange fee" charged to retailers helps finance this global system.
Every time a customer uses a card, retailers must pay an "interchange" fee.
The restaurant would be charged the typical interchange fee for a credit card transaction.
Similar(9)
The Durbin amendment tackled interchange fees.
The proposed rules take aim at so-called interchange fees.
But the fight over interchange fees is bound to continue.
You made money on all the accounts with interchange fees.
Visa and MasterCard charge different rates, called interchange fees, depending on the credit card that is used.
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