{"id":955,"date":"2020-02-23T22:21:14","date_gmt":"2020-02-23T22:21:14","guid":{"rendered":"https:\/\/trc-parus.ru\/?p=955"},"modified":"2023-08-24T14:49:07","modified_gmt":"2023-08-24T22:49:07","slug":"credit-card-and-payment-processing-industry-overview","status":"publish","type":"post","link":"https:\/\/trc-parus.ru\/blog\/credit-card-and-payment-processing-industry-overview\/","title":{"rendered":"Credit card and payment processing industry overview"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"955\" class=\"elementor elementor-955\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4d5dc67 e-flex e-con-boxed e-con e-parent\" data-id=\"4d5dc67\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f0455fa e-con-full e-flex e-con e-child\" data-id=\"f0455fa\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-617c2fb elementor-widget elementor-widget-text-editor\" data-id=\"617c2fb\" 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 - v3.20.0 - 26-03-2024 *\/\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>The payment processing industry is a sector of the financial industry that handles electronic payment transactions. It includes companies that provide payment processing services, such as credit card processing, debit card processing, electronic fund transfers, and online payment processing. These services allow businesses to securely transfer money electronically and make purchases online or in-store using payment cards or other electronic payment methods.<\/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-09b4d53 elementor-widget elementor-widget-heading\" data-id=\"09b4d53\" 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 - v3.20.0 - 26-03-2024 *\/\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 processing market size<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a866ac elementor-widget elementor-widget-text-editor\" data-id=\"0a866ac\" 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 payment processing industry is big business. There are about 470 billion credit card transactions per year across the globe, mostly from Visa, UnionPay, Mastercard, American Express, JCB, Diners Club, and Discover cards.\u00a0<\/p><p>In the USA, t<span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); font-size: 1rem;\">here are about 40 billion credit card transaction per year with Visa taking roughly 40% of the market share.\u00a0<\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); font-size: 1rem;\">The amount that people spend using credit cards in North America is over $3 trillion per year and that is growing by about 10% per year. Payment processing fees add up to around $85 billion per year.\u00a0<\/span><\/p><p>It\u2019s easy to understand why the payments industry is so competitive. Traditionally, payment processing has been dominated by a few very large banks. However, recently smaller companies have been able to enter the market and compete on new software and great customer experiences.<\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); font-size: 1rem;\">One interesting trend is that the amount of people that <a href=\"https:\/\/trc-parus.ru\/blog\/declining-use-of-cash-cash-vs-credit-cards\/\">use cash and checks as a payment method is falling off a cliff<\/a> in favour of digital payments, in particular credit cards. The <\/span><a style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); background-color: #ffffff; font-size: 1rem;\" href=\"https:\/\/www.federalreserve.gov\/paymentsystems\/2017-December-The-Federal-Reserve-Payments-Study.htm\" target=\"_blank\" rel=\"noopener\">US Federal Reserve<\/a><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); font-size: 1rem;\">\u00a0has some pretty good studies on payment card trends.<\/span><\/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-9644612 elementor-widget elementor-widget-heading\" data-id=\"9644612\" 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\">Merchants are the customers in payment processing<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-336c05d elementor-widget elementor-widget-text-editor\" data-id=\"336c05d\" 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>There are more than 31 million businesses (merchants) in North America. There are roughly 29 million businesses in the USA and 2 million in Canada. Approximately 36% of all merchants accept credit cards. The rest use cash, checks, or money transfers. But as we&#8217;ve described, credit cards are growing quickly and the number of businesses with <a href=\"https:\/\/trc-parus.ru\/products\/merchant-account\/\">merchant accounts<\/a> is growing fast.<\/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-0d04ba1 elementor-widget elementor-widget-image\" data-id=\"0d04ba1\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 26-03-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"516\" src=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Merchants-in-payment-processing-industry-clearly-payments-1024x660.png\" class=\"attachment-large size-large wp-image-5293\" alt=\"Number of merchants payment processing industry overview by TRC-Parus\" srcset=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Merchants-in-payment-processing-industry-clearly-payments-1024x660.png 1024w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Merchants-in-payment-processing-industry-clearly-payments-300x193.png 300w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Merchants-in-payment-processing-industry-clearly-payments-768x495.png 768w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Merchants-in-payment-processing-industry-clearly-payments-1536x990.png 1536w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Merchants-in-payment-processing-industry-clearly-payments-2048x1320.png 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf12e7e elementor-widget elementor-widget-text-editor\" data-id=\"cf12e7e\" 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>There is a fee to use credit cards, roughly 2.3% of the total dollar amount processed.\u00a0<span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); font-size: 1rem;\">You can<\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); font-size: 1rem;\">\u00a0<\/span><a style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); font-size: 1rem; background-color: #ffffff;\" href=\"https:\/\/trc-parus.ru\/blog\/average-interchange-fee\/\">read more about the average amount merchants pay<\/a><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); font-size: 1rem;\">.<\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">\u00a0<\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The merchants pay the fees to the credit card processing value chain described below for the ability to\u00a0<\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); font-size: 1rem;\">accept credit cards<\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); font-size: 1rem;\">. Therefore, merchants are the true customer in the payment processing industry.\u00a0<\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">Here is a full\u00a0<\/span><a style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); background-color: #ffffff;\" href=\"https:\/\/trc-parus.ru\/blog\/how-fees-work-in-credit-card-processing\/\">article on how fees work in payment processing<\/a><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">.\u00a0<\/span><\/p><p>As you can imagine, the largest 150 merchants generate more than half of the total payments in North America.\u00a0 The smallest 80% of merchants only generate 2% of revenue.\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-5a2c2d3 elementor-widget elementor-widget-heading\" data-id=\"5a2c2d3\" 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 payment processing value chain<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f0989ec elementor-widget elementor-widget-text-editor\" data-id=\"f0989ec\" 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 style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 0.9rem; color: #333333; font-family: Poppins, sans-serif; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;\">The credit card processing value chain includes the companies that generate revenue directly off of a credit card transaction. Sometimes the group of companies are known as payment processors as a general term, however, they each have very different roles.<\/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-110b1d7 elementor-widget elementor-widget-image\" data-id=\"110b1d7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"439\" src=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Value-Chain-Clearly-Payments-1024x562.png\" class=\"attachment-large size-large wp-image-5294\" alt=\"Payment processing industry overview and value chain by TRC-Parus\" srcset=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Value-Chain-Clearly-Payments-1024x562.png 1024w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Value-Chain-Clearly-Payments-300x165.png 300w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Value-Chain-Clearly-Payments-768x422.png 768w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Value-Chain-Clearly-Payments-1536x844.png 1536w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Value-Chain-Clearly-Payments-2048x1125.png 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-060569c elementor-widget elementor-widget-text-editor\" data-id=\"060569c\" 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>It is important to note that there are some missing companies or value-added services that play a vital part in the value chain, such as\u00a0<a href=\"https:\/\/trc-parus.ru\/products\/terminals\/\">credit card terminal<\/a> manufacturers or <a href=\"https:\/\/trc-parus.ru\/blog\/fraud-detection-in-payment-processing\/\">fraud prevention systems<\/a>. They are not included in the value chain because they do not directly generate revenue from a credit card transaction. They generate revenue of the sale of hardware and software.<\/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-6351fce elementor-widget elementor-widget-heading\" data-id=\"6351fce\" 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\"><span style=\"font-family: var( --e-global-typography-primary-font-family ), Sans-serif; font-weight: var( --e-global-typography-primary-font-weight );\">Issuing bank (or c<\/span>redit card issuer)<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-779e242 elementor-widget elementor-widget-text-editor\" data-id=\"779e242\" 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 credit card issuers (or issuing banks) are the companies (banks or credit unions) that people get their credit cards from. <a href=\"https:\/\/www.chase.com\/\" target=\"_blank\" rel=\"noopener\">Chase<\/a> and <a href=\"https:\/\/www.citi.com\/\" target=\"_blank\" rel=\"noopener\">Citi<\/a> are a couple of the largest in the USA while <a href=\"https:\/\/www.td.com\/ca\/en\/personal-banking\/products\/credit-cards\" target=\"_blank\" rel=\"noopener\">TD<\/a> and <a href=\"https:\/\/www.rbcroyalbank.com\/\" target=\"_blank\" rel=\"noopener\">RBC<\/a> are the largest in Canada. The issuing bank decides things like the interest rate that cardholders pay, the limit, foreign fees, etc. Read our <a href=\"https:\/\/trc-parus.ru\/blog\/what-is-an-issuing-bank-in-payments\/\">full article on what is an issuing bank<\/a>.<\/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-daf77b9 elementor-widget elementor-widget-heading\" data-id=\"daf77b9\" 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\">Card brand (or credit card network or card association)<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf08c22 elementor-widget elementor-widget-text-editor\" data-id=\"bf08c22\" 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 card brand (or credit card network or card association) are the players that sets <a href=\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\">interchange rates<\/a> and govern the rules of the program. That\u2019s <a href=\"https:\/\/trc-parus.ru\/\" target=\"_blank\" rel=\"noopener\">Visa<\/a>, <a href=\"https:\/\/trc-parus.ru\/\" target=\"_blank\" rel=\"noopener\">MasterCard<\/a>, Diners, Discover, etc. Read our <a href=\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\">full article on what is a credit card network<\/a>.<\/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-ff64ab3 elementor-widget elementor-widget-heading\" data-id=\"ff64ab3\" 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\">Acquirer (or payment processor or underwriter)<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-df7bf13 elementor-widget elementor-widget-text-editor\" data-id=\"df7bf13\" 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>This is where definitions can get complicated. An acquirer (or acquiring bank) actually process credit card transactions, take on the underwriting risk, and hold the merchant account for merchants. Sometimes people use the term \u201cprocessor\u201d as a general term for \u201cpayment processor\u201d or \u201cmerchant services provider\u201d but they are technically different. The main difference is defined by who provides the technology that communicates with the issuing bank, which is the acquirer. Read our <a href=\"https:\/\/trc-parus.ru\/blog\/what-is-an-acquiring-bank-in-payments\/\">full article on what is an acquirer<\/a>.<\/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-7bc460b elementor-widget elementor-widget-heading\" data-id=\"7bc460b\" 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\">Service provider (or merchant service provider or payment processor)<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0bc2af5 elementor-widget elementor-widget-text-editor\" data-id=\"0bc2af5\" 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>Merchant service providers provide the sales, support, and software to merchants. Sometimes they build their own software, sometimes they\u00a0<a style=\"background-color: #ffffff;\" href=\"https:\/\/en.wikipedia.org\/wiki\/White-label_product\" target=\"_blank\" rel=\"noreferrer noopener\">white label<\/a> it. These are the players that merchants primarily work with. These can also be called an ISO (Independent Sales Organization) or just a payment processor.\u00a0<\/p><p>ISOs come in a wide range of sizes from very small boutique businesses to multi-national organizations. Merchant service providers are one of the most interesting players in the value chain because they can be one of the most nimble and innovative players, bringing significant value to merchants. Read our <a href=\"https:\/\/trc-parus.ru\/blog\/what-is-an-iso-in-payments\/\">full article on what is an ISO in payments<\/a>.<\/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-60231e2 elementor-widget elementor-widget-heading\" data-id=\"60231e2\" 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 breakup of revenue in payment processing <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28fe367 elementor-widget elementor-widget-text-editor\" data-id=\"28fe367\" 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 payment processing value chain works together to enable merchants to accept credit cards and to ensure consumers have a safe, efficient, and secure way to pay.\u00a0For this service, companies in the value chain split up an overall fee of around 2.12% of the transaction amount. This is just a rough estimate. Merchants can pay as low as around 2% and as high as 8% to 10%. This article explains why\u00a0<a href=\"https:\/\/trc-parus.ru\/blog\/merchants-that-pay-the-highest-interchange-fees-in-payments\/\">some merchants pay higher payment processing fees.<\/a><\/p><p>The fees merchants pay include the <a href=\"https:\/\/trc-parus.ru\/blog\/how-interchange-rates-work-in-payments\/\">interchange fee<\/a> along with other payment processing fees. Here is are some statistics on <a href=\"https:\/\/trc-parus.ru\/blog\/average-interchange-fee\/\">the average interchange fee<\/a>.<\/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-707fc6c elementor-widget elementor-widget-image\" data-id=\"707fc6c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"659\" src=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Industry-and-Clearly-Payments-1024x844.jpg\" class=\"attachment-large size-large wp-image-21417\" alt=\"Credit Card Transaction Breakdown\" srcset=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Industry-and-Clearly-Payments-1024x844.jpg 1024w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Industry-and-Clearly-Payments-300x247.jpg 300w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Industry-and-Clearly-Payments-768x633.jpg 768w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/Payment-Processing-Industry-and-Clearly-Payments.jpg 1536w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ae2689c elementor-widget elementor-widget-text-editor\" data-id=\"ae2689c\" 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>Let\u2019s look at an example where a consumer pays $100 for a pair of shoes. To start off, the merchant gets around $97.88 and the credit card value chain gets $2.12. This number can vary significantly. It can vary based on things such as the type of transaction and the country you&#8217;re in. In particular, many service providers (and <a href=\"https:\/\/trc-parus.ru\/blog\/difference-between-merchant-account-and-aggregator-account\/\">aggregators<\/a>) will mark up the fees across the value chain to collect more revenue. This is a key reason you should work with an honest service provider. <a href=\"https:\/\/trc-parus.ru\/\">TRC-Parus<\/a> is one of those honest service providers \ud83d\ude42<\/p><p>The credit card issuer takes the most of the fees, around 67%. The issuer does the hard work of getting a credit card into the hands of the consumer in the first place. Next, the service provider takes around 16% for providing the software, support, and service. Then the rest is roughly evenly split between the acquirer and credit card brand.<\/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-e03ca07 elementor-widget elementor-widget-heading\" data-id=\"e03ca07\" 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 in payment processing<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9990bc elementor-widget elementor-widget-text-editor\" data-id=\"a9990bc\" 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 has been evolving quickly over the past two decades. There are many payment processing trends that are ongoing and will have a significant impact on the industry over time.&nbsp;<\/p>\n<p>The key trends we see are the growth of eCommerce, the prevalence of mobile devices,&nbsp;<a href=\"https:\/\/www.bcbusiness.ca\/Bank-Shot-open-banking\" target=\"_blank\" rel=\"noopener\">open banking<\/a>, the prevalence of the internet, real-time payments, <a href=\"https:\/\/trc-parus.ru\/blog\/cryptocurrency-and-payments-a-look-at-the-future\/\">digital currency<\/a> (i.e. cryptocurrency), and <a href=\"https:\/\/trc-parus.ru\/blog\/artificial-intelligence-and-payments\/\">artificial intelligence<\/a>. TRC-Parus will continue to leverage these trends to build a better experience for merchants and <a href=\"https:\/\/trc-parus.ru\/about\/\">reduce the cost of payment processing<\/a>. Read about more my perspective on the&nbsp;<a href=\"https:\/\/trc-parus.ru\/blog\/the-future-of-payments-and-trends-in-2023\/\">trends in payments<\/a>.<\/p>\n<p>We see a future of payments where transactions are low-cost, borderless, real-time, and simple. If you have any questions or insight for us, email me at <a href=\"mailto:kalle@trc-parus.ru\">kalle@trc-parus.ru<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\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>The payment processing industry is a sector of the financial industry that handles electronic payment transactions. It includes companies that provide payment processing services, such as credit card processing, debit card processing, electronic fund transfers, and online payment processing. These services allow businesses to securely transfer money electronically and make purchases online or in-store using [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":5294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[31],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Credit card and payment processing industry overview - Credit Card Processing and Merchant Account<\/title>\n<meta name=\"description\" content=\"Industry overview for credit card processing and merchant services. 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