- October 13, 2017
- Posted by: anand
- Category: General
By Michael D. Lenihan
Published in AFP’s Exchange Fall 2017 issue
Did you know the credit interchange rates in the United States are the highest in the developed world? This might raise the question as to how your company stacks up against best practices and overall costs of acquiring these sales, given the continued strong growth of card based sales.
It is a complex matrix of players between the swipe of the card and the deposit of funds into the merchant’s bank account. But where are the fees applied, who gets paid to do what, and how do they get paid?