Merchant Processing Fees in the United States — 2024
US merchants paid $187.20 billion in processing fees to accept those credit and debit cards for payments of goods and services they sold. This was up 8.7% from 2023.
Area of Interest: Merchant Acquiring
PayPal Expands in Europe
Merchants in Europe will be able to use Fastlane on a white-label basis to compete against branded digital wallets from PayPal, Apple, Google and Wero. Both Visa and Mastercard offer expedited checkout services in Europe called Click to Pay.
Membership Programs for Direct Response Merchants
Membership clubs generate predictable revenue streams and customer loyalty.
Highnote Adds Acquiring
The platform’s general ledger can move funds from issuing accounts to acquiring accounts in real time.
Mpact Card Acceptance
Mpact’s SaaS platform analyzes the deposits of a client’s accountholder data to identify business customers using services from an outside company.
Paze Online Checkout from Early Warning Services
Marketing to merchants began in the second quarter of 2024.
Verifone Launches Victa Device Portfolio
New mobile, portable and reader devices from POS terminal manufacturer Verifone were designed to serve multiple use cases and a variety of merchant sectors. These devices will be sold under the Verifone Victa brand to independent software vendors (ISVs), independent sales organizations (ISOs) and acquirers, as well as directly to merchants, in all world regions.
Investments in Merchant Processing, Acquiring—2024
In 2024, the value of 67 investment transactions for which the monetary value was announced amounted to $5.51 billion. This compares to 85 deals with announced values totaling $8.90 billion in 2023.
Discover Financial Services Results—2024
Total credit card volume (purchases and cash advances) was $224.58 billion for Discover Financial Services (DFS) in 2024, a decline of 3.5%. Cash advances were 5.49% of total volume, down from 6.39% in 2023. Outstanding credit card receivables at year-end 2024 were up 0.5% to $102.79 billion.
Acquirers and ISOs Can Provide Rewards to Merchants
Tuzo’s rewards platform assigns points based on the purchase volume of every credit card payment merchants accept. Points can be redeemed for travel, prepaid cards, electronic devices, vacation destinations and luxury goods.
