Best Practices for Merchants to Get The Lowest Rates Possible.
Overview
When you settle your transactions each day, National Transaction’s network routes them to the respective Card Associations (Visa, MasterCard, Discover) and debit networks through Interchange. Every transaction is assigned an Interchange category based on card type (credit, debit, rewards, purchasing) industry type (retail, e-commerce, etc) and qualification elements (swiped card, key entered, etc).
What is Interchange?
Interchange is the system where transactions are submitted for payment from the Acquirer or Merchant Processor to the Card Issuer or Debit Network. The Card Associations and Debit Networks establish the rules and manage the Interchange of all transactions. Read more of this article »
Posted in Best Practices for Merchants Tagged with: Discover, key entered, MasterCard, POS device, swiped card, Visa MasterCard American Express