Assertion: interchange | /r/HasProperty | fee
Facets:
value: in exchange
type: MANNER
value: to a merchant's bank
type: TRANSITIVE-OBJECT
value: the store,
type: OTHER
Source sentences:
text: Interchange is a fee the store, or “merchant,” pays every time you swipe your card.
text: Interchange is the fee paid by the retailer's card acceptance provider (acquirer) to the card issuer each time a card payment transaction occurs.
text: Simply put, Interchange is a fee charged by the major credit card payment networks: Visa, MasterCard, Discover, and American Express to a merchant's bank in exchange for processing a payment.
text: Interchange is a fee paid between two banks or payment providers each time a payment card is used.
text: Interchange is a fee paid between banks for the acceptance of card-based transactions.
text: Interchange is a fee paid by a merchant's bank (also known as the acquiring bank) to the cardholder's bank (the issuing bank) to compensate the issuing bank for a portion of the risks and costs it incurs.
text: In a four-party payment system (the Visa and MasterCard models), the merchant discount fee includes interchange, which is a fee paid by a merchant acquirer to the issuing bank (card issuer), plus additional clearing and settling fees.
text: Interchange is the fee paid between banks for the acceptance of credit card transactions.