Interchange is a part of the system that makes electronic payments possible. Interchange is the transfer rate exchange between the retailer’s financial institution (an acquirer) and the cardholder’s financial institution (an issuer) every time a Visa payment product is used.

Interchange provides the incentives necessary to assure that financial institutions invest in the Visa system and the benefits that we all enjoy with payment products – from protection against fraud to car rental insurance coverage to airline miles to 24/7 customer service. Visa also uses interchange as a tool to aid financial institutions in signing up more retailers to accept Visa so that cardholder’s can use their Visa credit or debit card to fuel up at the gas station, buy stamps at the post office and pick up a 50th anniversary gift for your parents in the same afternoon – all without carrying a chequebook or fumbling for cash.

In today’s market, consumers are opting more often to pay with credit and debit cards.  Every day, Visa connects thousands of financial institutions, hundreds of thousands of businesses and millions of cardholders to make all of your everyday purchases possible around the globe.