Interchange Fees are wholesale fees set by card schemes such as Mastercard, Visa and eftpos that require payments from the merchant’s bank (Acquirer) to the cardholder’s bank (Issuer) on every transaction. The cost of Interchange Fees is typically passed on to the merchant in the form of a Merchant Service Fee. For a more detailed explanation of Interchange Fees please refer to the news post on this topic – What is Interchange and Why Does it Matter?