2 PAYMENT METHOD PROFILES: CARD
Network Fees From 2009 to 2021 (latest data available), Federal Reserve data on average network fees by network type shows an even more dramatic impact of competitive routing on pricing efficiencies. From 2009 to 2021, the average single-message network fee has hovered around 0.10%. Conversely, the average dual-message network fee has grown significantly, from 0.15% in 2009 to 0.20% by 2021.
Average Network Fees by Network Type
0.25%
0.20%
0.15%
0.10%
0.05%
0.00%
2009 2010 (est.)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Single-Message Dual-Message
Graph 2.22 223 Credit
Credit card transactions in the United States have not experienced similar efficiencies as co-badging and routing protections are not required for credit card issuers. With limited competition as a contributing factor, credit card interchange and network fees have grown significantly. In just the period 2022-2024, CMSPI estimates that four-party credit card network and interchange fees rose from $104 billion to $122 billion – nearly a 20% increase in just a two-year period. This growth is significant, especially compared to the only 14% growth in U.S. volume for these networks over the same period. 224
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