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November 2, 2016TSG Press

TSG in Digital Transactions – First Data Reports an Easing in Its Small-Merchant Attrition Rate

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.

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