INTERCHANGE

An 'interchange' is a location where two things meet, usually perform some kind of exchange, and possibly go on their ways again. It is most commonly used in four contexts:

★ Transportation:

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★ A collection of ramps, exits, and entrances between two highways is an interchange.

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★ An ''Interchange station'' is a railway station where two or more different routes (sometimes of different companies) meet and allow passengers exchange railroad cars within the station.

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★ A ''Cross-platform interchange'' is an interchange station which allows commuters exchange between 2 trains of different route in a higher efficiency on an island platform.

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★ In the UK an interchange is a transport node for more than one form of transport; see also transport interchange and intermodal passenger transport.

★ Computers:

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★ ''Electronic Data Interchange'' is the computer-to-computer exchange of business data in a standard format.

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★ The ''Peripheral Interchange Program'' was software to enable computers to exchange files.

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★ ASCII is the American Standard Code for ''Information Interchange''.

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★ Interchange software is an open source application server for electronic commerce.

★ Sports:

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★ In Australian rules football, interchange refers to a group of players in a sporting team that can be substituted into a match, replacing players coming off the ground.

★ Banking:

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★ Interchange refers to the money paid from the Acquirer to the debit or credit card issuer for every transaction. In certain circumstances Interchange may be paid from the issuer to the acquirer. The level of interchange is determined by many different factors according to the way the transaction occurred and the type of card used. Interchange balances the card payment system to make sure both Issuers and Acquirers find it profitable.

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★ Interchange fees are the portion of a purchase’s cost that merchants are charged by banks for processing credit card transactions.