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SECTION 5 -Understanding Interchange

Interchange. When I first entered the bank card space I was asked a million times ‘What’s your rate?’.  Today the same questions are asked by a merchant base completely in the dark as to how fees are assessed. Which brings us back to interchange - the core fees which constitute the majority of the fee assessed to the merchant.

Issuing and Acquiring Banks

Everyone uses plastic to make purchases. However it may surprise you to know current credit card processing can trace its roots back thousands of years. Did cave men use credit cards? From the fields of the gold rush to the company store, our journey ends in the banking structure of today.

What is Interchange?

There are only two types of people in the processing word. Those who use credit cards and those who accept them. Many times one person can be both! We will take a look at the needs, concerns and issues of each, and see how one influences the other.

Tiered and Cost Plus Pricing Models

Our final topic of conversation is in introduction to how payment cards are processed. We will track the dollars from consumer to merchant, and demystify the process. Thus armed, you will better understand the value which you will bring to the merchant, from both a financial and service perspective.