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U.S. merchants paid $187.2 billion in credit and debit card processing fees in 2024—a 70% increase since 2020. For QSR operators working on single-digit margins, these fees have become the third-largest expense after food and labor, yet they remain largely invisible to consumers and underappreciated by industry analysts.
Since 2019, the cost of eating at a quick-service restaurant has climbed nearly 40%, far outpacing grocery inflation and general CPI. What many consumers assume is temporary gouging is actually the product of three compounding, structural cost increases — food commodities, labor, and occupancy — none of which show meaningful signs of reverting.
In November 2024, private equity giant Blackstone agreed to acquire a majority stake in Jersey Mike's Subs for $8 billion. The deal came just months after Blackstone purchased Tropical Smoothie Caf...