SANTA BARBARA, Calif., March 21, 2023 (GLOBE NEWSWIRE) -- In 2022, US merchants paid a record $160.70 billion in processing fees to accept $10.589 trillion in payments from credit, debit and prepaid cards, according to the Nilson Report. The total value of fees was up 16.7% from 2021, even though purchases for goods and services tied to all card payments grew by only 12.3% year-over-year. “Merchants paid much more overall in 2022 because credit card spending made up a larger share and cost more to accept. Credit card spending increased 18.7% ...
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Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants
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