The US card services industry comprises companies that process credit and debit card transactions on behalf of merchants and card issuing companies (such as banks). These companies also facilitate global fund transfers through their payment networks and merchants and financial insitutions pay them a fee for these services.
The industry is dominated by four major companies that process payments and offer value-added services to their clients. These companies’ primary source of revenues is the volume of total payments made through their networks. A small percentage of the total value of payments processed is taken by card companies in the form of transaction fees, charged at a flat rate, and a discount fee, which is charged at a variable rate based on the value of the transaction. read more about Plastic Money.
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