Visa and MasterCard handled $1.21 trillion in U.S. debit card purchase volumes in calendar year 2009, according to data from each network. Meanwhile, Minneapolis-based U.S. Bancorp, a major credit and debit card issuer, noted in its July 21 second-quarter earnings conference call that sales volume on its debit cards amounted to $37 billion in 2009, generating $500 million in interchange. That works out to a 1.35% interchange rate.