WSJ – Interchange Fees Step Into the Spotlight
According to the Wall Street Journal, U.S. banks raked in $45.3 billion last year from credit- and debit-card fees charged to merchants. About 75% of that comes from interchange fees set by Visa Inc. and MasterCard Inc. Overall merchant fees, including other revenue collected by banks and processing middlemen, are up 78% from $25.5 billion in 2003, according to the Nilson Report, a Carpinteria, Calif., newsletter that tracks the payments industry.
Merchants in the U.S. paid an average interchange rate of 1.82% per transaction last year, down from 1.93% in 2005, according to the Nilson Report, an industry’s argument that fees are falling. Please contact the Processing Brokerage for information on our interchange optimization program.
To read the rest of the article about credit card processing interchange fees, please click below:
This entry was posted on Sunday, November 8th, 2009 at 10:12 pm and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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