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What is interchange, and why does it matter?
Interchange is the base fee set by card networks (Visa, Mastercard) and paid to the card-issuing bank on every transaction. It's the largest, non-negotiable part of your processing cost — so how a processor marks it up is what really determines your rate.
Every card payment carries an interchange fee set by the card networks and paid to the bank that issued your customer's card. No processor can change interchange — but they can change how much they add on top.
That's why 'interchange-plus' pricing is the most transparent model: you pay true interchange plus a fixed, visible markup. Velocity helps you read your statement and, where it fits, use dual pricing to offset that cost entirely.
Frequently asked
The card networks (Visa, Mastercard, etc.) set interchange, and it's paid to the card-issuing bank. It's the same for every processor — no one can discount it.
No — interchange is fixed by the networks. What you can control is the markup on top, which is where Velocity lowers your cost.
Rewards and business cards carry higher interchangethan basic debit, so your blended cost depends on the mix of cards your customers use.
It's the wholesale floor of every transaction. Interchange-plus pricing shows it transparently; flat-rate hides it inside a padded percentage.
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