April 14, 2026
Small business speaks out on how they lose big on swipe fees
What it means: Small business owners are forced to pay billions of dollars each year in credit card swipe fees, becoming one of their top overhead costs. Small businesses are speaking out against these rising costs with videos and opinion articles that explore how Congress can provide legislative relief.
Our take: Credit card competition allows small business owners to choose their credit card processing company, driving down costs and saving their hard-earned dollars. Congress must take action to facilitate competition among credit card processing companies to stop these growing fees.
Take Action: Support competition to fight rising credit card swipe fees!
Credit card swipe fees have rapidly become one of the top expenses for small business owners, falling just behind labor as their top operating expense. These fees charge businesses 2-4% on each transaction and have quadrupled since 2010, forcing small businesses to raise prices to offset the impact of swipe fees, indirectly punishing both businesses and consumers.
With the Credit Card Competition Act and bipartisan legislation on the horizon, lawmakers have the chance to make a difference for millions of small businesses. Small business owners are speaking out in videos and opinion articles to make their voice heard on this issue.
In an opinion piece published in RealClearPolitics, NFIB member Randi Thompson, highlights the value the Credit Card Competition Act brings for small businesses, the credit card processing company monopoly, and how swipe fees bolster inflation pressures on small businesses and consumers.
Small business owner and NFIB member, Lisa Pizzo, recorded an In Your Own Words video detailing how important swipe fee relief is for her Colorado-based business that can no longer accept credit cards.
Take Action: Tell Congress to pass the Credit Card Competition Act to give small businesses freedom of choice to pick their credit card processing network.
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
Related Articles