Interchange is the base cost of every card transaction. When a customer pays, Transnet works with the acquiring bank to process the payment, while the customer’s bank (the card issuer) receives the interchange fee. Card networks like Visa, Mastercard, and Discover set these fees.

Interchange rates vary by card type and how the payment is processed. Rewards credit cards usually cost more, debit cards cost less, and in-person chip or swipe transactions are cheaper than online or keyed-in payments.

These rates are the same for all providers. What sets Transnet apart is pricing structure, transparency, and service.