A
Merchant Account has a variety of fees, some periodic, others charged on a per-item or percentage basis. Some fees are set by the
merchant account provider, but the majority of the per-item and percentage fees are passed through the merchant account provider to the card issuing bank according to a schedule of rates called
interchange fees, which are set by Visa and Mastercard. Interchange fees vary depending on card type and the circumstances of the transaction. For example, if a transaction is made by swiping a card through a credit card terminal it will be in a different category than if it were keyed in manually.
EditSee also