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Merchant Account: Interchange +.20%

Interchange in the above question refers to the cost of money. But what does this really mean? 20% of the purchase?

Asked by: 604 days ago - 1 Answers - 596 views

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    The (+) Plus is the cost assigned to represent the Merchant Service Providers various costs of doing business. Including risk, servicing, authorizing, capture, settlement and profit.

    Represented as basis points, ie 20 basis points (0.20%) which equals $0.20 .

    Answer by Donald Bailey 546 days ago


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