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Interchange
The banker's interchange is a system managed by MasterCard and VISA to facilitate their use around the world. It exchanges data and money between the connected banks.
Interchange Fee
This is the fee charged to a Merchant Bank by it's Issuer to compensate for the waiting time the Issuer Bank needs between settlement time and the when the online payment is recieved.
Issuer Bank
The financial institutions who give credit to their Cardholders through credit or debit cards. These banks work with with VISA or MasterCard, setting the credit card limit. Then the issuer bank bills the cardholder for repayment of the extended credit.
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