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Heartland Payment Systems is out with data suggesting that since the imposition by the federal government of limits on hidden swipe fees charged by banks issuing debit cards, for every $100,000 of Visa and MasterCard volume processed, consumers and merchants saved an average (across all states) of $260.24.

According to the press release, “The per-store savings peaked in Washington, D.C., where consumers and merchants saw savings of $333.94 per store, while Montana retailers saw the lowest savings — $127.87. The state-by-state variance is a result of the number of large versus small banks in the area as well as the mix of credit-debit card volume processed (the totals do not include the impact of PIN debit volume) ... The savings calculated by Heartland reflect lower swipe fees, not actual savings per merchant, since competition typically dictates that cost savings are passed on to customers.”
KC's View:
If you want to see the state-by-state breakdown, click here.