The interchange fee is a bank charge that retailers pay whenever customers use a credit or a debit card to pay for a purchase.

Question

Quizplus · Accepted Answer

The interchange fee is a real bank charge that is paid by retailers when their customers use a credit or debit card to make a payment. The fee is charged by card networks like Visa and Mastercard, and it helps to cover the costs associated with processing card transactions.

The Interchange Fee Is a Bank Charge That Retailers Pay