The merchant bank account and finally the issuing bank will send the cardholder a bill for the purchase what is interchange and what role does it play interchange is.
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A scheduled fees that determine the price for all credit-card transactions there are hundreds of Payment Spring interchange levels and each is comprised of a set of qualification requirements that must be met in order for.
A transaction to fall into a certain category the two main qualification requirements are number one how the payment is accepted whether it’s face to face or over the phone for example and.
The second is the type of card that is used whether it’s a consumer card or a business card example individual rate categories are set by Visa and MasterCard and.
The interchange scheduled fees are published and could potentially change two times per year this is Payment Spring important to remember since those changes can affect the cost of your merchant account here’s.
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A sample of just one part of a schedule of fees published by Visa as you can see there are rates and eight categories on this example alone again in any single transaction just one of.
These rates are charged based on the qualification of the card that was presented let’s look at two main pricing models and the components of both of them most providers will offer.
The following price structures number one tiered pricing also known as bundled or bucket pricing Payment Spring and the second is interchange Plus also known as cost plus or pass-through pricing in order to compare.
These two pricing models let’s first look at how the two pricing structures are related first off interchange costs are at.
The core of both pricing models the fees for any given transaction are broken down into two main categories interchange costs along with dues and assessments and processor costs dues and assessments are paid to.
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Imagine what would have happened in December he’s at all yeah I know Felix Seder he’s brokering a deal for me right this very moment with Russia and I need Vladimir Putin on my side to make it happen what do you think would happen.
Presidential prospects right then and there he had to deny knowing safer he had to deny this deal he kept this deal a secret he hid this deal from the American public and David I feel like I’m I’m starting to feel like there is this mountain of not just Trump Russia.
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connections and Trump Russia deals and Trump Russian financial connections but this mountain of documented false denials and it includes this one from the president but it also includes you know Jeff Sessions saying he didn’t have rush of contacts he did Paul Frankfort.
saying he didn’t up Russia contacts he did Flynn denying he had Russian contacts he did Don jr. Jared Lushness I mean whether they said it out loud or they put it in writing in in sworn statements and applications for security.
clearances over and over and over against the same thing all going in the same direct what is what does that add up to in the end lying isn’t a crime but consistently covering up these connections and having so many different people consistently do it even after they get caught.
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To point out why this is interesting and also I should emphasize why it ought to surprise you because most of you probably now don’t use map when you drive cars since you have phones and GPS devices and so on and so forth but those of you remember when you used to use maps maps at least the way humans.
Fold them are I think wonderful what’s the word representative of how foolish we can be because maps refolded always in orthogonal directions you fold it in one and then you fold it or open it in a perpendicular.
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Directions that when you open it it’s relatively easy about how to proceed because you’re always opening it so that you increase the area but when you close it every foal has two possibilities and if I haven folds I have to the N possibilities and so you get thoroughly confused but what I showed you is that our infinite.
stupidity was associated with the fact that if only we had thought of not having the folds perpendicular to each other if the folder of a slight angle to each other then they will all open simultaneously.
And then they will all close simultaneously and it took man few thousand years to realize he after the invention of paper that what you should have done was to follow Commemoration.
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Because now the whole thing opens and closes in one move so mathematically that means that you have just one degree of freedom rather than having two to the power n if okay so sot his is a beautiful structure it is evens I said starting to become.
Used in Ina very different in many different engineering applications but in fact it turns out and also can be seen spontaneously I showed you an image of this so here is a piece of gelatin which is drying actually it’s dried so it’s gelatin you just put it on your pettish or on top of your table you walkaway and come back.