May 04th 2022
How much interchange was paid on sales tax in the US in 2022?
CMSPI estimates that U.S. merchants paid over $7 billion in interchange on sales tax in 2022. Read below to see how that differed by state.
Interchange Paid on Sales Tax (Est.)
Methodology:
We have taken the sales tax data from (Source 1) to show total sales tax paid by state, and then using public financial reports from Visa and Mastercard, ascertained the total volume through debit and credit cards, which have been split by state by GDP (Source 2). Total interchange fees charged on credit vs debit cards have been analyzed from the Nilson Report on card fees.