swipe discount rate
Definition
Fee charged by a merchant account provider from a merchant for bank/credit card transaction conducted through a swipe machine (magnetic stripe reader). Swipe discount rates are usually lower than MOTO discount rates because the merchant can inspect the card and its presenter to guard against fraud or misuse.
swipe discount rate is in the Banking, Commerce & Finance subject.
This content can be found on the following page:
http://www.businessdictionary.com/definition/swipe-discount-rate.html
email to a friend
print this definition
cite this definition
link to this page
