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From:
Merchant Savvy
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What Are UK Interchange Fees & How Are They Calculated?
https://www.merchantsavvy.co.uk/card-processing-fees/interchange-fees/
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Interchange fees are one of the three components that make up the Merchant Service Charge (MSC). These fees are typically paid to the customer’s card issuer to cover handling costs, bad debt costs, and the risk involved in approving the payment.