Monday, October 19, 2009

MasterCard Payment Gateway (MPG)

MasterCard Payment Gateway (MPG) is a gateway hosted by MasterCard and used for routing and settling commercial electronic payments between buyers and suppliers.

Monday, October 12, 2009

Interchange Program

Interchange program is a program that reimburses card issuers for specific costs related to an incoming interchange transaction. These costs include processing costs, financial carrying costs, and risk costs. Interchange fees are payable to the card issuer by the acquiring bank.

Tuesday, October 6, 2009

Interchange Fee

Interchange fee is a fee applied to an interchange transaction, applicable to the two members of the Credit Card Associations of Visa and MasterCard participating in the transaction as card issuer and acquirer.