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Interchange fees (or swipe fees) might appear to be just a cost merchants pay to accept card payments. Every time a customer makes a payment with a credit or debit card, the merchants acquiring bank pays a fee to the customers card issuing bank. Swipe fees fund these initiatives and cover the maintenance costs.
Third-Party Service Provider ( TPSP or "service provider") refers to an entity other than the Merchant, Acquirer, or Issuer involved in storing, processing, or transmitting card data. Generally, if you’re coming into contact with cardholder data, it’s your organization’s responsibility to protect it.
ACH/eChecks tend to accrue lower fees because they bypass credit card networks by using the ACH network, which applies batch processing to reduce individual transactions, resulting in lower administrative and processingcosts for financial institutions.
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