I came across this and it's from 2004:
The credit card industry loses approximately $2 billion annually due to credit card fraud worldwide.
Visa and MasterCard do not disclose the exact dollar value of how much they lose to fraud but they do admit it is about 7 cents for every $100 in transactions.
The current 2008 numbers for their revenues are:
Visa = $6.3 billion
MasterCard = $4.8 billion
Amex = $3.4 billion
Discover = $2.6 billion
Total: $17.1 billion
I don't know how they exactly tally the fraud and who eats the losses but if it's the 4 listed above, that's a high portion of their revenue. $2 billion ('04) out of $17.1 billion revenue ('08). But since the fraud number is from '04 it would be even higher now. If we were to answer how much does credit card fraud cost the industry it looks like that would probably be somewhere between 10% and 15% of their revenue. Are my rough calculations in the ball park?