Sql Server Delete and Merge performance

I've table that contains some buy/sell data, with around 8M records in it:

CREATE TABLE [dbo].[Transactions](
[id] [int] IDENTITY(1,1) NOT NULL,
[itemId] [bigint] NOT NULL,
[dt] [datetime] NOT NULL,
[count] [int] NOT NULL,
[price] [float] NOT NULL,
[platform] [char](1) NOT NULL
) ON [PRIMARY]

Every X mins my program gets new transactions for each itemId and I need to update it. My first solution is two step DELETE+INSERT:

delete from Transactions where platform=@platform and itemid=@itemid
insert into Transactions (platform,itemid,dt,count,price) values (@platform,@itemid,@dt,@count,@price)
[...]
insert into Transactions (platform,itemid,dt,count,price) values (@platform,@itemid,@dt,@count,@price)

The problem is, that this DELETE statement takes average 5 seconds. It's much too long.

The second solution I found is to use MERGE. I've created such Stored Procedure, wchich takes Table-valued parameter:

CREATE PROCEDURE [dbo].[sp_updateTransactions]
@Table dbo.tp_Transactions readonly,
@itemId bigint,
@platform char(1)
AS
BEGIN
MERGE Transactions AS TARGET
USING @Table AS SOURCE  
ON (    
TARGET.[itemId] = SOURCE.[itemId] AND
TARGET.[platform] = SOURCE.[platform] AND 
TARGET.[dt] = SOURCE.[dt] AND 
TARGET.[count] = SOURCE.[count] AND
TARGET.[price] = SOURCE.[price] ) 


WHEN NOT MATCHED BY TARGET THEN 
INSERT VALUES (SOURCE.[itemId], 
                SOURCE.[dt],
                SOURCE.[count],
                SOURCE.[price],
                SOURCE.[platform])

WHEN NOT MATCHED BY SOURCE AND TARGET.[itemId] = @itemId AND TARGET.[platform] = @platform THEN 
DELETE;

END

This procedure takes around 7 seconds with table with 70k records. So with 8M it would probably take few minutes. The bottleneck is "When not matched" - when I commented this line, this procedure runs on average 0,01 second.

So the question is: how to improve perfomance of the delete s