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interchange

Definition 1

Standards based exchange of transaction data and money among banks participating in a bank card network such as those managed by Visa and MasterCard associations. It allows a cardholder to access his or her account from multiple ATMs and to make purchases at any participating merchants.

Definition 2

Transfer of cargo and equipment (aircraft or ships) from one carrier to another.

Definition 3

Agreement among interconnected electric utilities to buy, sell, and/or exchange surplus power among themselves.


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