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Fed posts 2018 debit card fee data

The FRB has posted the following highlights on 2018 debit card interchange fees:

  • The average interchange fee per covered transaction was slightly lower in 2018 for transactions processed over dual-message networks than for those processed over single-message networks: $0.22 and $0.24, respectively.
  • By contrast, the average interchange fee per exempt transaction was considerably higher in 2018 for transactions processed over dual-message networks than for those processed over single-message networks: $0.54 and $0.25, respectively.
  • Since Regulation II took effect on October 1, 2011, neither the average interchange fee per covered transaction nor the average interchange fee per exempt transaction have changed significantly.
  • By contrast, the average interchange fee per exempt transaction increased slightly for dual-message networks in 2018 compared to previous years, while the average interchange fee per exempt transactions remained largely unchanged from 2017 to 2018 for single-message networks after declining in previous years.
  • Exempt transactions constituted 37.2 percent of total volume and 36.0 percent of total value for debit card transactions in 2018, with the proportions slightly higher for transactions processed over dual-message networks than for those processed over single-message networks. These proportions have changed little since Regulation II took effect.
  • The vast majority of prepaid card transactions were exempt from the interchange fee standard in 2018: 92.9 percent by volume and 94.1 percent by value. Overall, prepaid card transactions constituted 6.3 percent of total volume and 5.8 percent of total value for debit card transactions in 2018.
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