Momentum is building in Congress to pass the Credit Card Competition Act to address the broken and unfair U.S. payments market. Thousands of retailers and consumers have already contacted Congress telling it to act — and Congress is listening. In fact, it’s been reported that the CCCA will be given a vote during this Congress.
We must keep the pressure on elected officials to follow through and vote on the CCCA. Relief from excessive and unfair credit card swipe fees cannot wait: The average American family pays an extra $1,000 annually because of the rising cost of swipe fees regardless of whether they even use a credit card. Credit card swipe fees are most retailers’ highest operating cost after labor — preventing them from investing in their businesses by hiring more staff, buying more inventory and competing on price. U.S. retailers and merchants pay the highest swipe fees in the industrialized world — $126.4 billion in swipe fees were paid by businesses for credit card transactions, a 20% increase from the previous year. 81% of consumers support federal legislation that would allow for greater competition to lower credit card fees for small businesses.
Take a moment to tell Congress to pass the Credit Card Competition Act today!
Click here: PASS SWIPE FEE REFORM NOW
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs – 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. nrf.com
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