{"id":26130,"date":"2024-08-14T07:50:31","date_gmt":"2024-08-14T15:50:31","guid":{"rendered":"https:\/\/trc-parus.ru\/?p=26130"},"modified":"2024-08-14T07:50:33","modified_gmt":"2024-08-14T15:50:33","slug":"statistics-on-how-much-merchants-pay-for-payment-processing-in-2024","status":"publish","type":"post","link":"https:\/\/trc-parus.ru\/blog\/statistics-on-how-much-merchants-pay-for-payment-processing-in-2024\/","title":{"rendered":"Statistics on How Much Merchants Pay for Payment Processing in 2024"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"26130\" class=\"elementor elementor-26130\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-828827f e-flex e-con-boxed e-con e-parent\" data-id=\"828827f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dd957b3 elementor-widget elementor-widget-text-editor\" data-id=\"dd957b3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>In 2024, payment processing is more complex and competitive than ever. With the global economy&#8217;s increasing digitization, the demand for efficient, cost-effective payment processing solutions has surged.\u00a0<\/p><p>Merchants and corporations are always in search of low cost processing across all industries and regions. This article covers current statistics and general information of payment processing across the globe for merchants.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-707de05 elementor-widget elementor-widget-heading\" data-id=\"707de05\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Payment Process Fees Differ by Region<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d16ecfc elementor-widget elementor-widget-text-editor\" data-id=\"d16ecfc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The global overall average fee for processing credit card transactions in 2024 is approximately 2.4% of the transaction value. This rate, however, varies significantly depending on the region, payment method, and type of transaction.\u00a0<\/p><p>For more in depth information, read the report on <a href=\"https:\/\/trc-parus.ru\/blog\/interchange-fees-by-country\/\">interchange fees for payment processing by country<\/a>.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d8887b elementor-widget elementor-widget-heading\" data-id=\"5d8887b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">North America Payment Processing Fees<br><\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcdd90a elementor-widget elementor-widget-text-editor\" data-id=\"fcdd90a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Merchants in the United States and Canada face some of the highest payment processing fees in the world, with average rates ranging between 2.3% and 2.9%. These fees are attributed to the dominance of credit card payments and the involvement of multiple intermediaries, including card networks, issuing banks, and acquiring banks.<\/p><div class=\"flex max-w-full flex-col flex-grow\"><div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"d9dbd071-c0f0-468e-adfb-91be996b8d0c\"><div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\"><div class=\"markdown prose w-full break-words dark:prose-invert dark\"><p>North American payment processing fees are the highest in the world due to a combination of factors, including high <a href=\"https:\/\/trc-parus.ru\/blog\/how-interchange-rates-work-in-usa\/\">interchange rates<\/a>, which can exceed 2% per transaction, and the dominance of major card networks like Visa and Mastercard that control over 80% of the market. Unlike Europe, where interchange fees are capped at 0.3% for credit cards, the U.S. has no such regulation, allowing fees to remain elevated. Additionally, the prevalence of rewards programs, funded by these fees, and the high usage of credit cards\u2014over 60% of U.S. consumers prefer credit cards\u2014further drive costs. The complex payment ecosystem and a lack of merchant bargaining power contribute to maintaining these high fees.<\/p><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5e88ec elementor-widget elementor-widget-heading\" data-id=\"c5e88ec\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Europe Payment Processing Fees<br><\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50cc35e elementor-widget elementor-widget-text-editor\" data-id=\"50cc35e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><a href=\"https:\/\/trc-parus.ru\/blog\/an-overview-of-interchange-rates-and-payment-processing-in-the-eu\/\">European merchants benefit from lower fees<\/a>, typically around 0.5% to 1.5% for a total cost to merchants. The European Union&#8217;s regulations, such as the Interchange Fee Regulation (IFR), have capped interchange fees, resulting in more competitive pricing for merchants.<\/p><div><div dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"97bf8d33-f579-4c16-899a-358e65249bf5\"><div><div><p>Due to the EU&#8217;s Interchange Fee Regulation, which caps interchange fees at 0.3% for credit cards and 0.2% for debit cards, European merchants generally benefit from lower fees compared to other regions, especially North America. However, additional costs such as acquiring bank fees, payment gateway fees, and <a href=\"https:\/\/trc-parus.ru\/blog\/what-are-cross-border-fees-in-credit-card-payments\/\">cross-border transaction fees<\/a> can influence the final amount a merchant pays.<\/p><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0dc2ed elementor-widget elementor-widget-heading\" data-id=\"a0dc2ed\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Asia-Pacific Payment Processing Fees<br><\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-687207d elementor-widget elementor-widget-text-editor\" data-id=\"687207d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"flex max-w-full flex-col flex-grow\"><div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"34d6dae7-e525-4abd-9792-8f71d2729348\"><div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\"><div class=\"markdown prose w-full break-words dark:prose-invert dark\"><p>In the Asia-Pacific region, the average payment processing fee a merchant pays generally ranges from 1% to 3% of the transaction amount. This range can vary widely depending on the country, the type of payment method used, and the specific agreements between merchants and payment processors.\u00a0<\/p><p>In countries like Japan and Australia, fees tend to be on the lower end, often around 1% to 1.5%, due to competitive markets and regulatory influences. In contrast, emerging markets within the region may see higher fees, closer to 2% to 3%, particularly for credit card transactions.\u00a0<\/p><p>Additionally, the use of alternative payment methods like <a href=\"https:\/\/trc-parus.ru\/blog\/how-digital-wallets-work-in-payments\/\">mobile wallets (e.g., Alipay, WeChat Pay)<\/a> and bank transfers is prevalent, which can sometimes result in lower fees compared to traditional card payments. The diversity of payment methods and varying levels of market maturity across the region contribute to this broad range in processing fees.<\/p><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-866265d elementor-widget elementor-widget-heading\" data-id=\"866265d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Latin America Payment Processing Fees<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60281f3 elementor-widget elementor-widget-text-editor\" data-id=\"60281f3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"flex max-w-full flex-col flex-grow\"><div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"a56a97f6-fef4-4a24-89cc-55e721df5936\"><div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\"><div class=\"markdown prose w-full break-words dark:prose-invert dark\"><p>In Latin America, the average payment processing fee that a merchant pays typically ranges from 2% to 4% of the transaction amount, with fees varying significantly depending on the country, the type of card used, and the payment processor.\u00a0<\/p><p>Credit card transactions generally incur higher fees, often closer to 3% to 4%, particularly in countries like Brazil and Argentina, where the market is dominated by a few major banks and payment processors. Debit card fees tend to be lower, but they still average around 1.5% to 2.5%.\u00a0<\/p><p>The region&#8217;s financial infrastructure is less developed compared to North America and Europe, leading to higher fees due to limited competition and higher risk factors. Additionally, the growing use of alternative payment methods, such as local digital wallets (e.g., MercadoPago, PagSeguro), is beginning to influence the fee structure, though traditional card payments still dominate.<\/p><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-54c80a6 elementor-widget elementor-widget-heading\" data-id=\"54c80a6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Breakdown of Payment Processing Fees<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be968cd elementor-widget elementor-widget-text-editor\" data-id=\"be968cd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Payment processing fees can be broken down into three main components:<\/p><ul><li><p><strong>Interchange Fees:<\/strong>\u00a0<a href=\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\">Interchange fees<\/a>, set by card networks (e.g., Visa, Mastercard), are paid by the merchant&#8217;s bank (<a href=\"https:\/\/trc-parus.ru\/blog\/what-is-an-acquiring-bank-in-payments\/\">acquirer<\/a>) to the cardholder&#8217;s bank (<a href=\"https:\/\/trc-parus.ru\/blog\/what-is-an-issuing-bank-in-payments\/\">issuer<\/a>). In 2024, interchange fees range from\u00a0<strong>0.5%<\/strong>\u00a0to\u00a0<strong>2.5%<\/strong>\u00a0of the transaction value, depending on factors such as card type, transaction type, and merchant category.<\/p><\/li><li><p><strong>Assessment Fees:<\/strong>\u00a0<a href=\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\">Card networks<\/a> also charge assessment fees to acquirers, typically around\u00a0<strong>0.13%<\/strong>\u00a0to\u00a0<strong>0.15%<\/strong>\u00a0of the transaction value. These fees are used to cover the cost of maintaining the card network&#8217;s infrastructure.<\/p><\/li><li><p><strong>Processor Fees:<\/strong>\u00a0<a href=\"https:\/\/trc-parus.ru\/blog\/what-is-a-payment-processor\/\">Payment processors<\/a> charge merchants a fee for their services, which can vary from\u00a0<strong>0.2%<\/strong>\u00a0to\u00a0<strong>1.0%<\/strong>\u00a0of the transaction value. This fee covers the cost of authorization, <a href=\"https:\/\/trc-parus.ru\/blog\/fraud-detection-in-payment-processing\/\">fraud prevention<\/a>, and settlement services.<\/p><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d1de30 elementor-widget elementor-widget-heading\" data-id=\"5d1de30\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Impact of Merchant Size on Fees<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c579442 elementor-widget elementor-widget-text-editor\" data-id=\"c579442\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The size of the merchant plays a significant role in determining payment processing fees. Larger merchants, with higher transaction volumes, have more negotiating power and can often secure lower rates.<\/p><ul><li><p><strong>Small Businesses:<\/strong>\u00a0Small businesses, processing less than $1 million annually, typically pay higher fees, ranging from\u00a0<strong>2.5%<\/strong>\u00a0to\u00a0<strong>3.5%<\/strong>\u00a0per transaction. They often lack the resources to negotiate better rates or invest in advanced payment processing technology.<\/p><\/li><li><p><strong>Mid-sized Merchants:<\/strong>\u00a0Mid-sized merchants, processing between $1 million and $10 million annually, usually pay between\u00a0<strong>2.0%<\/strong>\u00a0and\u00a0<strong>2.7%<\/strong>\u00a0per transaction. Their higher transaction volumes give them some leverage to negotiate lower fees and access to more competitive payment processing solutions.<\/p><\/li><li><p><strong>Large Enterprises:<\/strong>\u00a0Large enterprises, processing over $10 million annually, benefit from the lowest fees, often between\u00a0<strong>1.5%<\/strong>\u00a0and\u00a0<strong>2.0%<\/strong>\u00a0per transaction. These merchants can negotiate good pricing arrangements with payment processors, reducing their overall costs. Large enterprises even have discussions directly with credit card networks like Visa and MasterCard to negotiate lower fees.<\/p><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a246d0b elementor-widget elementor-widget-heading\" data-id=\"a246d0b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The Different Types of Payment Methods<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89cdccf elementor-widget elementor-widget-text-editor\" data-id=\"89cdccf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The type of payment method used by customers also impacts the fees that merchants pay:<\/p><ul><li><p><strong>Credit Cards:<\/strong>\u00a0Credit card transactions incur the highest fees, typically between\u00a0<strong>2.0%<\/strong>\u00a0and\u00a0<strong>3.5%<\/strong>. Rewards cards and corporate cards often have higher interchange fees, increasing the overall cost for merchants. There is an <a href=\"https:\/\/trc-parus.ru\/blog\/most-expensive-credit-cards-for-merchants\/\">overview on the fees for different credit cards and the most expensive ones<\/a>.<\/p><\/li><li><p><strong>Debit Cards:<\/strong>\u00a0Debit card transactions generally have lower fees, ranging from\u00a0<strong>0.5%<\/strong>\u00a0to\u00a0<strong>2.0%<\/strong>. In regions like the U.S., PIN debit transactions are less expensive than signature debit transactions.<\/p><\/li><li><p><strong>Alternative Payment Methods:<\/strong>\u00a0The rise of digital wallets (e.g., Apple Pay, Google Pay), Buy Now, Pay Later (BNPL) services, and bank transfers has provided merchants with lower-cost alternatives. Fees for these methods usually range from\u00a0<strong>1.0%<\/strong>\u00a0to\u00a0<strong>2.0%<\/strong>\u00a0per transaction.<\/p><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3453e0 elementor-widget elementor-widget-heading\" data-id=\"c3453e0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Industry-Specific Payment Processing Costs<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f92c5a elementor-widget elementor-widget-text-editor\" data-id=\"9f92c5a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div><a href=\"https:\/\/trc-parus.ru\/blog\/industries-have-different-interchange-rates-in-payments\/\">Different industries face varying payment processing<\/a> fees based on their risk profile, transaction volume, and customer base:<\/div><ul><li><p><strong>Retail:<\/strong>\u00a0Retailers typically pay between\u00a0<strong>2.0%<\/strong>\u00a0and\u00a0<strong>2.5%<\/strong>\u00a0per transaction. High transaction volumes allow for some fee negotiation, but the use of rewards credit cards by customers can drive up costs.<\/p><\/li><li><p><strong>E-commerce:<\/strong>\u00a0E-commerce merchants face higher fees, averaging\u00a0<strong>2.5%<\/strong>\u00a0to\u00a0<strong>3.0%<\/strong>. The increased risk of fraud and <a href=\"https:\/\/trc-parus.ru\/blog\/most-common-reasons-for-chargebacks\/\">chargebacks<\/a> in online transactions contributes to these higher fees.<\/p><\/li><li><p><strong>Hospitality:<\/strong>\u00a0Hotels and restaurants usually pay around\u00a0<strong>2.0%<\/strong>\u00a0to\u00a0<strong>2.8%<\/strong>\u00a0per transaction. The hospitality industry&#8217;s reliance on credit card payments, combined with the need for tip adjustments and delayed settlements, increases the complexity and cost of processing.<\/p><\/li><li><p><strong>Healthcare:<\/strong>\u00a0Healthcare providers face lower fees, typically between\u00a0<strong>1.5%<\/strong>\u00a0and\u00a0<strong>2.2%<\/strong>. The industry&#8217;s lower risk profile and the frequent use of debit cards for copayments help keep fees down.<\/p><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fed338a elementor-widget elementor-widget-heading\" data-id=\"fed338a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Trends for Payment Processing Fees in 2024<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3267c7d elementor-widget elementor-widget-text-editor\" data-id=\"3267c7d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tSeveral trends are influencing payment processing fees in 2024:\n<ul>\n \t<li><strong>Regulatory Changes:<\/strong>\u00a0Governments worldwide are implementing regulations to cap interchange fees and increase transparency in payment processing. For example, the European Union&#8217;s IFR and similar initiatives in other regions aim to reduce the cost burden on merchants.<\/li>\n \t<li><strong>Advances in Technology:<\/strong>\u00a0The adoption of new payment technologies, such as real-time payments (RTP) and blockchain, is driving down processing fees. These technologies reduce the need for intermediaries, streamline transaction processing, and lower the risk of fraud.<\/li>\n \t<li><strong>Increased Competition:<\/strong>\u00a0The rise of fintech companies offering innovative payment processing solutions has increased competition in the industry. This competition has pressured traditional payment processors to lower their fees to retain market share.<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In 2024, payment processing is more complex and competitive than ever. With the global economy&#8217;s increasing digitization, the demand for efficient, cost-effective payment processing solutions has surged.\u00a0 Merchants and corporations are always in search of low cost processing across all industries and regions. This article covers current statistics and general information of payment processing across [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":26751,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-26130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-how-payments-work"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Statistics on How Much Merchants Pay for Payment Processing in 2024<\/title>\n<meta name=\"description\" content=\"2024 statistics and information of credit card payment processing fees across the globe for merchants including trends.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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