Archive for February 2016

How do interchange fees work?

What are interchange fees? Interchange fees are the fees exchanged between acquirers, issuers and the card schemes to which they belong. Interchange fees are usually related to the value or number of card payment transactions and are set by the card schemes for their acquirer and issuer members. The direction of interchange fee flow also varies…

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How does a card payment work?

Most of us are comfortable these days with using a credit or debit card to make a payment, whether in store or increasingly, online. But how many of us really know how the card payment works and what’s happening behind the scenes? And how many payments professionals might shamefully concede that the underlying flows are…

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