Interchange fees are paid by your processor’s bank to the issuing bank of your customers’ credit card. They’re set by the members of Visa and MasterCard (the banks), and they’re the same for all businesses. Think of interchange fees as wholesale processing rates: they’re the lowest attainable rates and fee.

There are a couple hundred interchange fees between Visa and MasterCard, but it’s not necessary to familiarize yourself with all of them since many won’t apply to your business. However, it doesn’t hurt to take a look at the Visa and MasterCard fee schedules posted online to get an idea of what they look like. Here’s a snippet from Visa’s interchange table.

Interchange plus pricing is extremely transparent because the pass through credit card processing costs are public knowledge, easy to identify and isolate into individual fee components, and exactly the same for all processors. As long as the merchant has a clear understanding of what the Plus mark-up is covering and how it is being applied, then it is quite easy to make an apples to apples cost comparison.

PayNunc always provides our merchants with secure and reliable interchange plus merchant payment processing, transparent pricing, and one-on-one personal service.