How does interchange pricing work?

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.

Note: One basis point is the equivalent of 0.01%.

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.

An example of the summary section of a monthly statement.

Monthly statement: Summary for monthly interchange pricing

An example of the summary of batches section with the total fees for the month highlighted.

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.

An example of the summary section for daily interchange pricing.

Monthly statement: Summary for daily interchange pricing

An example of the summary of batches section with the total fees for the month highlighted.

Monthly statement: Summary of batches for daily interchange pricing

Modified on: Thu, 21 Feb, 2019 at 9:00 AM