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Who Moved My Interchange?

For retail transactions processed over the dual-message networks (MC/Visa/Discover), the average interchange fee per exempt transaction in 2015 was $0.51. For PIN transactions, the average interchange fee per exempt transaction has been steadily declining since Regulation II took effect, and in 2015 was roughly half the dual-message rate at $0.26. As a percentage of the average transaction value, interchange fees vary widely by network, particularly among the single-message (PIN) networks....

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