General purpose and private label credit, debit, and prepaid cards generated $5.165 trillion in payments for goods and services in 2014. Processing fees, including interchange paid by U.S. merchants to handle that business, were $78.09 billion, up from $72.44 billion in 2013 when fees were $4.768 trillion.
According to The Nilson Report the weighted average of fees as a percentage of purchase volume from Visa and MasterCard credit, debit, and prepaid cards, American Express credit and prepaid cards, Discover credit, debit, and prepaid cards, EFT system PIN-based debit cards, and private label credit and debit cards was 1.51% in 2014. The weighted average was 1.52% in 2013.
Debit cards settled on the Visa, MasterCard, and PIN-based EFT system networks generated $2.279 trillion in purchase volume in 2014, and accounted for 44.1% of all spending on goods and services. This was down from 44.7% one year before. Debit cards generated $16.72 billion or 21.4% of the total processing fees paid by merchants in 2014. Debit cards accounted for 21.9% of all card processing fees paid by U.S. merchants in 2013.
For data, background and forecasts on U.S. Merchant Fees: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).