Interchange

The rate of exchange is the one that is pleased between the financial organizations emitting and purchaser whenever a card is used Visa. It does not have to be confused with the rates that pay the commerce to their financial organizations.

After each transaction, the financial organization of the commerce pays a rate to the one of the holder of the card. This aid to the financial organizations to share the costs of emission of cards Visa and adhesion of the commerce to accept payments with these cards.

The interchange allows the holders of cards, commerce and to its financial organizations to participate in the process of the transaction.

Thanks to the system of rates of exchange, 1,300 million card holders, 24 million commerce and 20,000 financial organizations benefit from the system of global Visa payment.

Reducing the costs

The cards Visa can in cash eliminate the general expenses derived from the money handling and checks, besides supposing for the commerce a guarantee of the payment.

If the interchange probably did not exist the holders they would have to pay more by his cards. Without the interchange, there would be in fact less card holders and less commerce would accept cards Visa.

An alternative would be that each emitting financial organization or purchaser negotiated bilateral agreements with the others, something that is clearly impossible.

Variable rates

With the credit cards the rate is normally a small percentage of the total value of the transaction. With regards debit cards, usually it is a fixed amount.

The rates of exchange also can vary according to the type of card and the risk that takes associate. For example, the rates of exchange are smaller for the electronic terminals o'clock of sale (TPV) than are for “the cod industry�? known ones that are used in the transactions manuals, and are even lower for the TPV adapted already for cards with chip.