WASHINGTON— Renewing its call for the federal government and lawmakers to address interchange fees, the Merchants Payments Coalition said credit and debit card swipe fees reached a record $198.25 billion in 2025.
According to a new report from the MPC, which stands on the opposite side of credit unions and financial institutions when it comes to interchange-related legislation, the total represents a 5.9% increase from $187.2 billion in 2024 and an 80% jump since the start of the COVID-19 pandemic, based on data from the Nilson Report.
“Credit card swipe fees make just about everything Americans buy more expensive,” Doug Kantor, a coalition executive committee member and general counsel for the National Association of Convenience Stores, said in a statement. He called the fees “devastating” for families and small businesses.
The Data Points
According to the coalition’s summary of Nilson Report data:
- Total swipe fees reached $198.25 billion in 2025
- Credit card fees alone totaled $157.8 billion, up from $148.5 billion in 2024
- Debit card fees rose to $40.5 billion, from $38.7 billion the previous year
- Fees tied to cards issued on the Visa and Mastercard networks accounted for $118.8 billion of the total, up from $111.2 billion in 2024, the coalition said.
- The average swipe fee rate for Visa and Mastercard credit cards rose slightly to 2.36% of each transaction, compared with 2.35% a year earlier, and up from about 2.02% in 2010, according to the data cited.
‘Higher Consumer Prices’
The MPC said swipe fees are typically the second-largest operating cost for merchants after labor and argued they contribute to higher consumer prices, estimating the average U.S. family pays more than $1,200 annually in increased costs tied to the fees.
The new figures come as Congress considers the Credit Card Competition Act, which is cosponsored by Sen. Roger Marshall (R-KS) and Sen. Dick Durbin (D-IL). Durbin is not running for reelection.
That legislation would require large banks — those with at least $100 billion in assets — to enable credit cards to be processed over at least one unaffiliated network in addition to Visa or Mastercard, with the goal of increasing competition over fees, security and service.
Supporters, including the Merchants Payments Coalition, say the measure could save businesses and consumers more than $17 billion annually. The group said the bill has backing from nearly 2,000 companies and hundreds of trade, consumer and labor organizations.
Earlier this year, President Trump also voiced support for efforts to rein in what he called “out of control” swipe fees.
While only one CU is above the $100 billion in assets threshold, credit unions oppose the legislation, arguing it will ultimately affect all CUs.
