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Swipe Fees: We Need Your Help

We finally have bipartisan bills in the House and the Senate to bring competition to credit cards. 

This is big news for our industry. But the banks and credit card industry will fight it with all their might. This is why we need your help. 

You can call or send a message to our legislators by using our Action Center on this page.

With 41-year high inflation and record gas prices, the convenience store industry has seen a staggering jump in our swipe fees. This is because Visa and Mastercard dominate the credit card market without any real competition and benefit from every cent of inflation. 

Bipartisan legislation to tackle this issue head-on has just been introduced, thanks to Senators Roger Marshall (R-KS) and Dick Durbin (D-IL) and Representatives Lance Gooden (R-TX-05) and Peter Welch (D-VT-AL).

The Credit Card Competition Act would require that there be two competing networks enabled on a credit card. It would no longer be just Visa or just Mastercard – there would have to be a smaller, competing network enabled on the card as well. The global card brands would have no choice but to compete for a retailer’s business, similar to what happens on debit today. Retailers would then be able to make the most cost-efficient choice for their business – and it would save American consumers and businesses an estimated $11 billion per year.

Please ask your Members of Congress to co-sponsor the Credit Card Competition Act. The convenience industry thrives on competition, and the card networks should too. Congress must act to ensure that there is price competition on swipe fees and enable the US to have an innovative and efficient credit card market. 

If your legislator is already a sponsor, our system will automatically create a note of thanks.

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