What is the mean of debit card swipe fees?

Last Update: Apr 27, 2024 |



Debit Card Swipe Fee (In Banking)

The term swipe fees OR interchange fees refer to the hidden cost paid by merchants to card-issuing banks and credit card companies for processing credit card and debit card transactions.

Swipe fees for credit card transactions vary by purchase amount but they average 2 percent of the total. Swipe fees have long been a point of contention between payment networks and retailers.

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