Examples of Interchange Fees in a sentence
The Seller may, from time to time, in its sole discretion, voluntarily increase or decrease the rate used to calculate amounts receivable or payable in respect of Interchange Fees.
The Seller receives Interchange Fees from financial institutions for clearing transactions arising under the Accounts and as compensation for assuming credit risk and funding receivables for a limited period of time prior to initial billing.
As in the Visa Check action, actual or estimated recovery amounts will be based on transaction data available in Visa’s databases and not data maintained by MasterCard or other sources, which “either lack sufficient coverage and consistency and/or do not include sufficient transactional information on Interchange Fees Paid to provide meaningful and systematic assistance in valuing claims.”4 Additional Info.
First, it will determine whether a class member’s transactions can be found4 The Claims Administrator may seek data from MasterCard upon requests from class merchants “who may have a disproportionate share of transaction volume on MasterCard-Branded Cards.” Such claimants may also choose to “submit information from which its MasterCard Interchange Fees Paid can be accurately estimated.” Additional Info.
The Seller will Transfer to the Custodian on a daily basis the Interchange Fees, representing the aggregate amount of fees paid or payable to the Seller on such day in respect of all Visa Accounts, Mastercard Accounts and other Specified Account Designation Accounts from other financial institutions that clear such credit card transactions for merchants after netting or set-off occurs.