The Plan
THE ETHIOPIAN WORLD FEDERATION, INCORPORATED
Debit Card
Interchange Fees
which is short for “Interchange Reimbursement Fees”, are per card transaction fees that are charged by the card networks to merchants for processing debit or credit card transactions. Every merchant that accepts cards pays interchange fees. These fees are associated with the costs of accepting, processing, and authorizing card transactions. The interchange fees are paid by the merchant bank (acquirer) to the customer’s bank (issuing bank) which is why they are sometimes called “issuer fees”.
From each transaction on the card the member will receive cash back, the member's local will receive a gratuity and The Ethiopian world Federation, Incorporated will be supported with each purchase from the card.