Payments

    Interchange fee

    The fee a card network charges your processor for moving the transaction.

    Definition

    Interchange is the bulk (~80%) of the total processing fee you pay. Rates vary by card brand, type (rewards cards cost more), and whether the card was swiped or keyed.

    Related terms

    Card payment

    A payment made by credit or debit card, processed online or in person.

    Stripe

    A payment processor that lets businesses accept cards, ACH, and wallets online.

    Convenience fee

    A surcharge added when a customer chooses a more expensive payment method.