What is a Discount Rate? Interchange? Chargeback?
Discount Rate- a percentage of each transaction that the merchant is charged by the provider for facilitating a credit card transaction. Interchange- the exchange of transactions between the credit card processing network and the issuing bank. Chargeback- a transaction that is returned to the merchant by the card issuing bank, generally due to a disputed transaction. The merchant bank has the option of returning or charge(ing) back the merchant for this transaction.
