This pricing model works by adding a constant margin onto the underlying interchange-rate. It’s widely considered the fairest model in the industry.
What is Interchange?
Interchange is the underlying cost of every credit-card transaction. It’s what every provider pays back to your customer’s issuing bank.
What is a Merchant Account?
A merchant account is a business account with a bank, that allows a business or non-profit organization to accept credit card payments in exchange for their product or service.