Pricing and fees
Interchange fee
The fee the merchant's acquiring bank pays the customer's card-issuing bank on each card transaction. It's set by the card scheme (Visa, Mastercard, eftpos), not negotiable by the merchant, and is usually the single largest component of the cost of accepting a card.
Where this affects your bill
Related terms
Knowing the term is one thing. Knowing your rate is another.
Compare every provider we cover on rate, monthly cost and lock-in.