Discount for cash is not permitted by our contract with the merchant bank.
The merchant bank pays the merchant and sends the receipt to your issuing bank.
The interchange fee is part of the terms of the merchant agreement that is made by the merchant bank with the merchant.
British Dictionary definitions for merchant bank
(in Britain) a financial institution engaged primarily in accepting foreign bills, advising companies on flotations and takeovers, underwriting new issues, hire-purchase finance, making long-term loans to companies, and managing investment portfolios, funds, and trusts