Consumers give little thought to the interchange fee charged every time they swipe their debit or credit card, but the fee can take a large bite out of a retailer's profit. The interchange fee averages 44 cents per transaction; the reduced fee will be 21 cents plus an additional amount to cover losses from fraud. Swipe fee rules don't account for returned items, but many merchants are reluctant to make up for it by charging restocking fees that could anger customers.

When Elite Payment Processing of Fort Lauderdale sets up your merchant account we will discuss the Interchange fees and your options.