Enumeration | Definition |
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Interchange fee | Income from the fee paid between card issuers and acquirers when cardholders make transactions. For information, per The UK Cards Association, credit cards are priced on a percentage of the total value. This is a percentage of the value of the card transaction. Debit cards are priced on a per transaction basis. This is usually expressed as pence per transaction. |
Merchant service charge | Income from fees paid by retailers or merchants who accept credit or debit cards pay to their acquiring bank. Joining fees or set up fees to cover the costs of setting up a new account should be included here, as should any minimum monthly service charges (MMSC). |