In 2023, a notable trend emerged among leading digital banks as they all experienced a decline in their reliance on interchange fees - the transaction fees banks collect from merchants when customers use their payment cards. While these fees traditionally served as a crucial revenue stream for digital banks, data shows Revolut maintained the smallest proportion of interchange fees relative to total revenue, with Monzo and Nubank following in second and third positions respectively. This shift suggests these digital banks are successfully diversifying their revenue sources beyond the traditional card payment model.
Interchange fee as a percentage of total revenues of selected leading and profitable digital banks worldwide in 2022 and 2023
(in millions)
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Simon-Kucher & Partners. (July 9, 2024). Interchange fee as a percentage of total revenues of selected leading and profitable digital banks worldwide in 2022 and 2023 (in millions) [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1537008/interchange-fee-percentage-of-revenues-digital-banks-worldwide/
Simon-Kucher & Partners. "Interchange fee as a percentage of total revenues of selected leading and profitable digital banks worldwide in 2022 and 2023 (in millions)." Chart. July 9, 2024. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1537008/interchange-fee-percentage-of-revenues-digital-banks-worldwide/
Simon-Kucher & Partners. (2024). Interchange fee as a percentage of total revenues of selected leading and profitable digital banks worldwide in 2022 and 2023 (in millions). Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1537008/interchange-fee-percentage-of-revenues-digital-banks-worldwide/
Simon-Kucher & Partners. "Interchange Fee as a Percentage of Total Revenues of Selected Leading and Profitable Digital Banks Worldwide in 2022 and 2023 (in Millions)." Statista, Statista Inc., 9 Jul 2024, https://www.statista.com/statistics/1537008/interchange-fee-percentage-of-revenues-digital-banks-worldwide/
Simon-Kucher & Partners, Interchange fee as a percentage of total revenues of selected leading and profitable digital banks worldwide in 2022 and 2023 (in millions) Statista, https://www.statista.com/statistics/1537008/interchange-fee-percentage-of-revenues-digital-banks-worldwide/ (last visited November 23, 2024)
Interchange fee as a percentage of total revenues of selected leading and profitable digital banks worldwide in 2022 and 2023 (in millions) [Graph], Simon-Kucher & Partners, July 9, 2024. [Online]. Available: https://www.statista.com/statistics/1537008/interchange-fee-percentage-of-revenues-digital-banks-worldwide/
