29 days ago • Posted by William Ramstein

Credit-card interchange fees fell in 2020

Card networks like Visa Inc. and Mastercard Inc. set the interchange fees that businesses pay to credit-card issuers when consumers use credit cards. Merchants also pay fees to the networks and other intermediaries involved in processing the payments. The total dollar amount of these merchant fees from Visa and Mastercard credit cards more than doubled between 2012 and 2019 to $67.6 billion, according to the Nilson Report. Credit-card usage declined in the pandemic, causing fees to fall 15% to $57.3 billion. Source: WSJ