Interchange - czym jest? Definicja pojęcia

Interchange – what is it? Definition of the term

Interchange is a bank fee that is charged with each payment card transaction. It is charged directly or indirectly between the issuer and the clearing agent, i.e. the person or institution that is involved in carrying out this transaction. The amount of interchange is set by banks and varies depending on the type of card and its parameters.

What exactly is Interchange? Definition of the term

Interchange – who pays the fee?

The interchange fee is a fee paid for transactions directly or indirectly (e.g., through a third party) between the issuer and the clearing agent involved in a payment transaction based on a payment card. This fee is charged by the bank that issued the card and is transferred to the bank that operates the point of sale. If the transaction is carried out in Poland, and both banks are Polish banks, the interchange fee can be charged only once – from the card issuer’s side.

Related Posts