{"id":7409,"date":"2022-04-19T15:17:02","date_gmt":"2022-04-19T15:17:02","guid":{"rendered":"https:\/\/trc-parus.ru\/?p=7409"},"modified":"2022-04-19T15:19:41","modified_gmt":"2022-04-19T15:19:41","slug":"what-are-interchange-fees-and-how-they-work","status":"publish","type":"post","link":"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/","title":{"rendered":"What are interchange fees and how they work"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7409\" class=\"elementor elementor-7409\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-80934aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"80934aa\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a7e9073\" data-id=\"a7e9073\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1d419a7 elementor-widget elementor-widget-text-editor\" data-id=\"1d419a7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 18-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Businesses need to pay an interchange fee for every credit card transaction. The interchange fee is the majority of the cost to businesses for payment processing. The businesses pay interchange fees, not the consumer. Many things can affect the interchange fee amount. First we will start off with a few basics of interchange fees.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-603a876 elementor-widget elementor-widget-heading\" data-id=\"603a876\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 18-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">What are interchange fees<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56c07c5 elementor-widget elementor-widget-text-editor\" data-id=\"56c07c5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Every time a credit card transaction is done (Visa, Mastercard, AMEX, etc.), the payment processor pays the cardholder\u2019s bank an interchange fee. The business then pays the interchange fee back to the payment processor as part of the card processing fees. Interchange fees make up the largest part card processing fees. Read about <a href=\"https:\/\/trc-parus.ru\/blog\/credit-card-and-payment-processing-industry-overview\/\">the payment processing industry<\/a> to get more details on how it works.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f563a96 elementor-widget elementor-widget-heading\" data-id=\"f563a96\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How much are interchange fees<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d4d894 elementor-widget elementor-widget-text-editor\" data-id=\"1d4d894\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>On average, interchange fees are around 1.8% in North America. However, they generally range anywhere from 1.3% to 3.5%. It&#8217;s difficult to know the exact average amount because there are hundreds of interchange rates that differ across each credit card and each credit card brand has different interchange rates. In addition, they are regularly adjusted. For example, Visa and Mastercard publish new rates in April and October every year. You can view the <a href=\"https:\/\/trc-parus.ru\/interchange-rates-in-canada\/\">interchange rates in Canada<\/a>\u00a0on TRC-Parus which we pull directly from the credit card brands.<\/p><p>Some credit card networks, including American Express and Discover, work slightly differently to Visa and Mastercard and don\u2019t commonly publish their interchange rates online. This also makes it difficult to determine an average interchange fee.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ee93d8 elementor-widget elementor-widget-heading\" data-id=\"8ee93d8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Factors that determine your interchange rate <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6debe86 elementor-widget elementor-widget-text-editor\" data-id=\"6debe86\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are many factors that impact the interchange rate you pay. Here are some the main ones which may help you lower your credit card processing fees.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-34d8aa3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"34d8aa3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-e85fb64\" data-id=\"e85fb64\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d3a9a9a elementor-widget elementor-widget-heading\" data-id=\"d3a9a9a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Credit card network<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-187d243 elementor-widget elementor-widget-text-editor\" data-id=\"187d243\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Each credit card network has different interchange rates: Visa, Mastercard, AMEX, and the others. Some generalizations are that fancier credit cards (i.e. rewards cards, black cards, etc) have higher fees. Another generalization is that AMEX tends to have the highest rates. Commercial or corporate credit cards also have higher rates than consumer credit cards.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-396ffc7 elementor-widget elementor-widget-heading\" data-id=\"396ffc7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Card-present vs card-not-present transactions<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2604857 elementor-widget elementor-widget-text-editor\" data-id=\"2604857\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Card-present (CP) transactions, or in-person transactions, have lower interchange fees than card-not-present (CNP) transactions. The risk for fraud is much lower with in-person transactions than transactions done online or by phone. That&#8217;s the reason for higher interchange fees with CNP transactions.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-252addf elementor-widget elementor-widget-heading\" data-id=\"252addf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Merchant category code (MCC)<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2f3245 elementor-widget elementor-widget-text-editor\" data-id=\"e2f3245\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Each business has a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Merchant_category_code\" target=\"_blank\" rel=\"noopener\">merchant category code (MCC)<\/a> based on the type of business it is. Your payment processor will assign that MCC code in your profile and interchange rates based on that. In general, riskier business types (i.e. travel or <a href=\"https:\/\/trc-parus.ru\/blog\/future-delivery-and-payment-processing\/\">future delivery<\/a>) have higher interchange fees. Other businesses get lower rates based on the MCC such as charities, grocery stores, and utilities.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe99309 elementor-widget elementor-widget-heading\" data-id=\"fe99309\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Cross border credit card transactions<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c851b18 elementor-widget elementor-widget-text-editor\" data-id=\"c851b18\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The interchange fees are lower for transactions where the consumers&#8217; credit card bank is in the same country as the business that it is purchasing from. For example, if a USA credit card is used at your Canadian store, the interchange fees may be higher.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5ce57a elementor-widget elementor-widget-heading\" data-id=\"d5ce57a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Interchange free regulation and transparency<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18765c2 elementor-widget elementor-widget-text-editor\" data-id=\"18765c2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tThere used to be very little transparency with interchange fees. Large businesses used to be able to negotiate lower fees, while smaller businesses had to pay the full amount.\n\nFortunately, things have improved to standardize interchange fees and there are rules to ensure smaller businesses don&#8217;t get worse fees than larger businesses. In general, interchange fees are now designed to be standard with no negotiation possible regardless of what size your business is.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Businesses need to pay an interchange fee for every credit card transaction. The interchange fee is the majority of the cost to businesses for payment processing. The businesses pay interchange fees, not the consumer. Many things can affect the interchange fee amount. First we will start off with a few basics of interchange fees.\u00a0 What [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":5402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[31],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What are interchange fees and how they work - Credit Card Processing and Merchant Account<\/title>\n<meta name=\"description\" content=\"The answers to all the base questions on interchange fees, how they work, how much they cost, and tips on how to save on credit card fees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are interchange fees and how they work - Credit Card Processing and Merchant Account\" \/>\n<meta property=\"og:description\" content=\"The answers to all the base questions on interchange fees, how they work, how much they cost, and tips on how to save on credit card fees.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\" \/>\n<meta property=\"og:site_name\" content=\"Credit Card Processing and Merchant Account\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/clearlypayments\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-19T15:17:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-19T15:19:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/12\/small-business-payment-processing.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"959\" \/>\n\t<meta property=\"og:image:height\" content=\"637\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kalle Radage\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@kalleradage\" \/>\n<meta name=\"twitter:site\" content=\"@clearlypayments\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kalle Radage\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\"},\"author\":{\"name\":\"Kalle Radage\",\"@id\":\"https:\/\/trc-parus.ru\/#\/schema\/person\/608d627233ee548e9312ce67fe0b72d0\"},\"headline\":\"What are interchange fees and how they work\",\"datePublished\":\"2022-04-19T15:17:02+00:00\",\"dateModified\":\"2022-04-19T15:19:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\"},\"wordCount\":594,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/trc-parus.ru\/#organization\"},\"image\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/12\/small-business-payment-processing.jpg\",\"articleSection\":[\"How Payments Work\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\",\"url\":\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\",\"name\":\"What are interchange fees and how they work - 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