Interchange refers to the settlement of funds, when the acquiring bank (representing the merchant) pays the issuing bank (representing the customer) a wholesale fee for processing each electronic transaction. The acquiring bank also pays an assessment fee to the appropriate card network for each tran...
A good example is the$0-annual-feeWells Fargo Autograph® Card. It earns an unlimited 3 points per dollar spent on: Restaurants. Travel and transit. Gas stations and EV charging stations. Popular streaming services. Select phone plans. ...