The Economics of Interchange

Let the Federal Reserve show you how PULSE stacks up1


When it comes to understanding and benchmarking interchange, the Federal Reserve is the gold standard. That’s why we don’t want you to take our word for it when it comes to interchange, take theirs. The chart above gives you a breakdown on how PULSE’s interchange has stacked-up against industry averages since 2012.


1. Federal Reserve Bank, 2018 Interchange Study (

Our Top Priority, You

As a valued PULSE participant, you’ve benefited from our highly-competitive interchange¹. In appreciation for your business, we’re offering your institution the opportunity to take advantage of higher premium interchange rates.

Respond by March 31, 2019, and we’ll offer our PULSE PAY® Choice rates if you sign a three-year agreement with PULSE.

In a payments landscape filled with uncertainty and change, this offer is designed to provide you a measure of confidence about your debit network relationship, along with an immediate boost to your debit program’s interchange revenue. This will help you focus more on what’s most important to your institution – your customers.   

This is just one way PULSE is focused on our participants’ needs and how we tailor our solutions to do what’s right for you.

Employee using a Discover Debit card on a mobile payment device.

The Economics of Unbundling

An industry expert outlines why you may not want to bundle your processing and network services.

Issuer Case Study

Let a satisfied issuer tell you why you should be looking at all your options.

The Economics of Card Brands

Check out a cool graphic showing how an issuer improved profitability with a card brand change.