Interchange is a fee paid for each card payment between the acquirer and the bank that issued the card. The Ukrainian law on payment services expressly allows the acquirer and/or the issuer to pay it to each other.
In plain words
A merchant usually does not see interchange as a separate line: it is part of the acquiring fee the merchant pays to the acquirer. In the classic scheme the acquirer passes part of that money to the bank that issued the customer’s card. The amount depends, among other things, on the payment system’s rules, the type of card and the type of transaction. If interchange changes, the law requires the acquirer to adjust the acquiring fee as the contract with the merchant provides. Banks often use part of their interchange income to fund customer bonuses and cashback.
Sources
- Law of Ukraine “On Payment Services” No. 1591-IX of 30 June 2021 — Art. 37(7) (version of 26 June 2026). Checked 14.10.2026.
Example. A purchase of UAH 1,000: the merchant receives the amount minus the acquiring fee. The acquirer passes part of that fee to the bank that issued the buyer’s card, and this part is the interchange (the numbers are illustrative; rates depend on the terms).