Federal Reserve Board publishes biennial report on 2023 debit card interchange fees, issuer costs and fraud losses

The Federal Reserve Board published its biennial report on debit card transactions, summarising information collected from large debit card issuers and payment card networks. The legally required report provides data on interchange fees, issuer costs, and fraud losses related to debit card transactions performed in 2023. Interchange fees are described as payments made by merchants to debit card issuers for each debit card transaction. The accompanying report materials cover 2023 interchange fee revenue, covered issuer costs, and covered issuer and merchant fraud losses related to debit card transactions.