Interchange Rate is a percentage of the gross amount of each transaction set by the applicable Card Brand. The Interchange Rate varies based on the type of transaction, method of transaction, and transaction classification. Transaction fees, depending on the specific fee, may be charged on all transactions or only specific types of transactions. Other fees will be charged as set forth for each fee, which may be upon the occurrence of an event (e.g., a chargeback fee will be charged for each chargeback) or based on the passage of time (e.g., a monthly fee will be charged each month or portion thereof without proration). The payment due for the purchase or lease of equipment, if any, will be subject to an amendment to the Agreement or a separate agreement. Each Card Brand may surcharge one or more transactions based on the type of transaction, method of transaction, transaction classification, and other metrics set forth in the Card Brand Rules. User is responsible for reviewing the applicable Card Brand Rules (available on each Card Brand website or upon request from Autobooks) regarding applicable surcharges.
Interchange Rate is a percentage of the gross amount of each transaction set by the applicable Card Brand. The Interchange Rate varies based on the type of transaction, method of transaction, and transaction classification. Transaction related Fees, depending on the specific Fee, may be charged on all transactions or only specific types of transactions. For example, a PIN-Debit Fee is only charged on debit transactions requiring a PIN. Other Fees will be charged as set forth for each Fee, which may be upon the occurrence of an event (e.g., a Chargeback Fee will be charged for each chargeback) or based on the passage of time (e.g., a monthly Fee will be charged each month or portion thereof without proration). The payment due for the purchase or lease of equipment, and the calculation of such payment, will vary based on the type of equipment, the applicable license(s) necessary to use the equipment, the length of any financing term, and the creditworthiness of Merchant. The payment amount(s), and the calculation for such amounts, will be set forth in a separate purchase or lease agreement. Monthly Minimum Fees will be charged in place of the following fees if the sum of the following fees does not exceed the Monthly Minimum (Discount Fees, Authorization Fees, Network Settlement Fees, PIN Debit Transaction Fees). Each Card Brand may surcharge one or more transactions based on the type of transaction, method of transaction, transaction classification, and other metrics set forth in the Rules. Merchant is responsible for reviewing the applicable Rules (available on each Card Brand website or upon request from Processor) regarding applicable surcharges.
Interchange Rate means a fee paid by the Acquiring Bank to the Issuing Bank. It is generally calculated as a percentage of the Transaction value. The fee is regulated and prescribed by the SARB on local Transactions. International Transactions attract various interchange fees that are not regulated by the SARB;
Examples of Interchange Rate in a sentence
The Merchant Commission rate will fluctuate in accordance with the type of Transaction processed by the Merchant and the Interchange Rate prescribed by the South African Reserve Bank.
Such notice shall specify the reduction in the Interchange Rate, the resulting reduction in FNBO revenue and the reduction in Compensation sought by FNBO.
In the event that the Interchange Rate is decreased by at least fifteen percent (15%) for a period of at least six (6) months due to a change in Applicable Law or Network requirements, FNBO may provide written notice to Co-Brand Partner requesting a renegotiation of the Compensation paid to Co-Brand Partner.
Interchange Rate + 20 basis Lenexa, KS points (.20% of cardvolume processed Ellucian, Inc.
MasterCard Takes Interim Steps to Evade Antitrust Liability by Board Agreement to Delegate Interchange Rate Setting Authority to Management.
More Definitions of Interchange Rate
Interchange Rate means any then-current fee charged by the Interchange System for each Bank Card Transaction.
Interchange Rate means the weighted average blend of the actual interchange rates applied by the Network to transactions under the Program.
Interchange Rate means [*].
Interchange Rate. A rate, set by the Network (i.e., Visa, MasterCard, Discover, American Express), collected by the card issuer to cover the cost of processing the transaction. Joint & Several Liability: Cardholder is liable for all transactions initiated on the card account and the Purchasing Entity is liable for all transactions and fees on such accounts that are closed for any reason or are ninety-one (91) days past due. Lead State: State responsible for soliciting for and managing the awarded Master Agreement Level 1 Data: Standard commercial transaction data that includes the total purchase amount, the date of purchase, the merchant category code, merchant’s name, city/state, debit/credit indicator, date transaction/credit was processed by the Contractor, Contractor processing/transaction reference number for each transaction/credit, and other data elements as defined by the Associations or similar entity.
Interchange Rate means the rate computed by the Bank intended to compensate the issuer for the cost of performing work to facilitate a transaction performed at a payment card channel.
Interchange Rate is a percentage of the gross amount of each transaction set by the applicable Card Brand. The Interchange Rate varies based on the type of transaction, method of transaction, and transaction classification. Transaction fees, depending on the specific fee, may be charged on all transactions or only specific types of transactions. For example, a PIN-Debit Fee is only charged on debit transactions requiring a PIN. Other fees will be charged as set forth for each fee, which may be upon the occurrence of an event (e.g., a chargeback fee will be charged for each chargeback) or based on the passage of time (e.g., a monthly fee will be charged each month or portion thereof without proration). Each Card Brand may surcharge one or more transactions based on the type of transaction, method of transaction, transaction classification, and other metrics set forth in the Rules. Merchant is responsible for reviewing the applicable Rules (available on each Card Brand website or upon request from Payline) regarding applicable surcharges. Service Providers may charge additional fees if Merchant’s account or transaction activity requires excessive use of, or assistance from, Service Provider Personnel or Service Provider’s vendors, as specified in Section 4.3 of the Agreement.
Interchange Rate means, with respect to the Co-Branded Credit Card program for any date or measurement period, an amount equal to the gross interchange revenue (which shall be reported as a separate line item under the monthly Program P&L pursuant to Schedule 7.1(a)(i)), divided by Net Credit Sales.