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GLOSSARY

Interchange fee

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What is an interchange fee?

An interchange fee is a charge paid between banks for processing credit or debit card transactions. When a customer uses a card to make a purchase, the merchant’s bank (known as the acquiring bank) pays a fee to the customer’s bank (the issuing bank). This fee covers costs such as transaction handling, fraud prevention, and maintaining security. The interchange fee is included in the total processing fees that merchants pay for accepting card payments.

Interchange fee: Good to know for SMEs

Interchange fees are crucial for SMEs as they directly influence the cost of accepting card payments. With many customers preferring cashless transactions, SMEs rely on card payments to meet demand. However, high interchange fees can reduce profit margins, especially for businesses with limited budgets. By understanding and managing these fees, SMEs can better control payment processing costs and maintain competitive pricing.

About amnis

amnis offers a comprehensive platform for international banking, offering a range of tools in one place. Transfer money abroad, exchange currencies 24/7 and collect international money transfer with your own IBAN accounts supporting  20+ currencies. Founded in 2014 in Zurich, amnis is a regulated payment institution under the supervision of the Banking Supervision Section in Liechtenstein (FMA) within the EEA.

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