Federal Reserve Board Publishes Comparative Information on Average Debit Card Interchange Fees
May 15, 2012
May 15, 2012
On May 1, 2012, the Federal Reserve Board published comparative information on the average debit card interchange fees that each payment card network charges acquirers (and indirectly merchants) and provides to debit card issuers. The interchange fee standard became effective on Oct. 1, 2011.
The aggregate data provided by the networks indicated that the average interchange fee for all issuers was 43 cents. Data collected after the rule took effect show that the average interchange fee per transaction received by non-exempt issuers in the fourth quarter of 2011 declined substantially to 24 cents, while the average interchange fee received by exempt issuers was 43 cents.
The board plans to collect and publish this fee information annually. The information may be useful to issuers (both exempt and non-exempt) and merchants in choosing payment card networks in which to participate and to policymakers in assessing the effect of Regulation II on the level of interchange fees received by exempt and nonexempt issuers over time.
Click here for the Board’s findings.
Click here for a table that contains comparative information on the average debit card interchange fees each payment card network provides to issuers.
Questions? Contact the Compliance Hotline: 1.800.546.4465, email@example.com.