Interchange
Interchange is the name of the fee paid by
your acquiring bank to the cardholder’s bank after every Visa
transaction.
Interchange has been designed to help banks share the costs of
issuing Visa cards and signing up retailers to accept those cards.
It enables cardholders, retailers and their banks to participate in
the transaction process.
Retailers and merchants do not pay interchange and it should not
be confused with the merchant service charge
(MSC).