OFFICIAL PUBLICATION OF THE INDIANA BANKERS ASSOCIATION

Vol. 108 2024 No. 4

Interchange Fees Essential For A Thriving Banking Ecosystem

Interchange Fees

Essential for a Thriving Banking Ecosystem

Interchange fees are a nominal charge that offsets the costs of operating a payment system that is extremely beneficial to consumers and retailers alike. When retailers accept electronic payments – credit cards, debit cards or mobile payments – they enjoy numerous advantages, including increased sales, access to a broader customer base, reduced risks associated with handling cash, fewer bounced checks and guaranteed payments.

Interchange Fees

Essential for a Thriving Banking Ecosystem

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Banker Profile: Derrick Davis

Banker Profile: Derrick Davis

Assistant Vice President, CRE Draw Disbursement and Administration Officer – First Internet Bank, Fishers

What was your first job, and what did you learn from it?
I can proudly say that I have contributed to helping serve more than 99 billion hamburgers by getting my start at my neighborhood McDonald’s. It taught me so much about this mysterious concept – FICA – and how it affected my take-home paycheck!

Banker Profile: Derrick Davis

Assistant Vice President, CRE Draw Disbursement and Administration Officer – First Internet Bank, Fishers

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