Interchange revenue / take

Formula

Interchange captured per $ spent

Unit

$ or bps

Models

Fintech

What it is

Interchange revenue / take measures the interchange fee a fintech captures per dollar of card spend — expressed in dollars per $100 spent or in basis points (bps). The formula is interchange captured divided by total card spend.

How to calculate it

Divide total interchange revenue received in a period by total card spend volume in that period. Multiply by 10,000 to express in bps, or by 100 to express as a dollar rate per $100 spent.

Why it matters

For consumer neobanks, interchange on debit spend is often the dominant revenue line. Because Durbin-exempt issuers (typically under $10B in assets) earn higher interchange rates than large regulated banks, this metric tracks a structural competitive advantage that erodes if an issuer crosses the Durbin threshold.

Benchmarks & pitfalls

Sacra (2024) reports Chime earns approximately $0.50 per $100 spent, or roughly 50 bps, on Durbin-exempt debit interchange — and frames this as the dominant neobank revenue line. This is a directional comparable from a single company, not a rigorous industry survey. The applicable rate depends on card network (Visa vs. Mastercard), merchant category, and whether the issuer is Durbin-exempt; companies that grow past the $10B asset threshold face a sharp interchange cut that materially compresses this figure.