Fintech
Interchange fee
The fee paid on each card payment from the business's acquirer to the customer's card issuer. For most UK consumer cards it's capped by law.
A plain-English explanation, not financial or tax advice. Rules and rates change, so check your own situation. For free, impartial guidance, try MoneyHelper. Disclaimer.
You'll hear it as
Interchange is a small part of the fee; the PSP's margin is the rest.
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