How does interchange pricing work?
Interchange pricing provides a single transaction fee which is unaffected by how you process the card or the associated risk of the transaction. We calculate the fee you pay per transaction using basis points, which we agree with you when you choose to use interchange pricing.
You also pay an interchange fee for each brand of card you want to accept. Each card brand dictates its own interchange fee.
Interchange pricing: monthly vs. daily payment
Interchange pricing: monthly
We calculate your card transaction fees once per calendar month using your basis points. We deduct them with your interchange fees and your account fees from the money funded to your bank account.
Monthly statement: Summary for monthly interchange pricing
Monthly statement: Summary of batches for monthly interchange pricing
Interchange pricing: daily
We deduct your card transaction fees daily, using your basis points. At the end of the month, we deduct your interchange and account fees from the money funded to your bank account.
Monthly statement: Summary for daily interchange pricing
Monthly statement: Summary of batches for daily interchange pricing