The payment interchange commissions
This is a fee which is paid by PayPlug's bank (the acquirer) to the bank which is issuing the card (the buyer's bank). These fees are aimed at covering the cost of payment flows and the credit card network's infrastructure (Visa, MasterCard). They contribute, this way, to the payment universality.
The payment interchange fee represents a part of the paid fees on each transaction. They can evolve over time. They are not decided by PayPlug but by the credit card networks and ruled by the European regulation 2015/751. The aim is to go toward a better EU internal market as far as electronic payment is concerned.
The interchange fees are composed of the 3 following elements:
1.The category of the used credit card:
- debit (card for which the payment is immediate)
- credit (card with a revolving or deferred credit),
- prepaid
- business
This distinction is mendatory for every card emitted since the 06/01/2016.
2. The credit card network:
- CB,
- Visa,
- MasterCard
3. The credit card issuance country
The lowest fees concern national payment (the credit card and the merchant are located in the same country)
The interchange fees are paid on each transaction. They can take the form of a percentage of the payment amount and/or of a fixed amount.