16
17
CMSPI – IAC State of the Industry Report
CMSPI – IAC State of the Industry Report
$8,000
3.50%
2.50%
$14,000
Unregulated Market
Unregulated Market
$7,000
3.00%
$12,000
$6,000
2.00%
2.50%
$10,000
Regulated Markets
$5,000
2.00%
Voluntary Commitments
1.50%
$8,000
$4,000
Regulated Markets
1.50%
$3,000
$6,000
1.00%
1.00%
$2,000
$4,000
0.50%
$1,000
0.50%
$2,000
0.00%
$0
USA Japan Mexico Canada Australia New Zealand
UK EU-12 China
$0
0.00%
Mexico
USA Canada
UK
Australia
EU-12
China
Interchange
Network Fee
Acquirer Fee
Total MSC
Market Size
Interchange
Network Fee
Acquirer Fee
Total MSC 2023 Market Size (USD bn)
Graph 1.2 – Credit Card Fees by Country, Market Size and Regulation Status 16 17
Graph 1.3 – Debit Card Fees by Country, Market Size and Regulation Status
Section 1.2.1 – Case Study: Payment Costs in the United States The weighted average cost of payments acceptance is increasing for U.S. merchants. In the U.S., CMSPI estimates the average cost of payments has risen from 1.36% in 2009 to 1.70% in 2022, corresponding to $49 billion in like-for-like additional costs for U.S. merchants annually. We believe this is being driven by two main factors: rising card fees and a changing payments mix.
16 Please see Section 5 for an overview of credit card interchange voluntary commitments in Canada 17 Average Credit Rates are exclusively Visa and MasterCard averages
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