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interchange fee

   Also found in: Wikipedia 0.06 sec.

interchange fee

Processing fee charged by credit card companies for charging a cardholder and paying the merchant. The fee is paid by the merchant's bank to the credit card bank.



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But this was limited largely to bank venues and other high-use areas where machine owners (mostly banks) could be assured of recouping some (often not all) of their costs for maintaining ATMs through the large number of network interchange fees charged for each transaction.
ATM Charges Actually Benefit Consumers by SPENCER, PETER / Los Angeles Business Journal
The interchange fee is also typically passed on to consumers.
SURVEY ESTIMATES 23% OF ATMS IMPOSE USER SURCHARGE by Daily News (Los Angeles, CA)
2 percent higher in 2006 than in 2005 from increased interchange fee income due to greater card activity.
UMB Financial Corporation Reports Year-Over-Year Earnings Growth on ... by Business Wire
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