Chief financial officer Himanshu Patel pegged the attrition rate as in the mid-30s [percentage points], “and that’s about roughly 2 percentage points better sequentially and year over year.”
High merchant attrition has been a hot topic for the big payment processor for several quarters. Merchant acquirers want to keep attrition as low as possible because of the expense of finding and approving new merchants, many of which care little about payment services other than their acceptance costs. Omaha, Neb.-based consulting firm The Strawhecker Group recently estimated industry wide annualized attrition among small and mid-sized merchants at 24.1% for the first quarter.
Acquiring Industry Metrics (AIM) is the most trusted, timely, and largest platform for merchant acquiring data.
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Most payments companies have data. Acquiring Industry Metrics (AIM) was created because what most don’t have is the ability to access data and compare it to peer benchmarks easily and accurately, particularly in the payments market.
- AIM is a Platform that enables access to portfolio-specific and market benchmarks at a micro/macro-level of detail
- The value of AIM is derived through the TSG data harmonization of multiprocessor settlement data
- Along with data harmonization are standardized AIM metric calculations