Interchange fee

When you buy something with a card, like a credit or debit card, the store has to pay a fee to the bank that gave you the card. This fee is called an interchange fee. It's like when you give someone a dollar for a toy they're selling; you're giving them something in exchange for the thing you want. In this case, the store is giving money to the bank in exchange for being able to accept your card as a form of payment. The interchange fee is used to help pay for things like fraud prevention and reward programs that the bank offers to people who use their cards. So, when you use your card to buy something, just know that a part of the money the store makes goes towards paying the interchange fee to the bank.