Topics:
January 20, 2026
Small business demands credit card network competition
What it means: Any time a credit card is used, a swipe fee is added to process the credit card transaction. This amounts to tens of thousands of dollars per year that small business owners must pay.
Our take: Lowering swipe fees is a priority for small businesses. NFIB will continue to fight for legislation to encourage competition in the credit card marketplace.
Take Action: Support competition to limit skyrocketing credit card fees!
Credit card costs have more than doubled since 2012. More transactions than ever before use credit cards, which adds a 2-3% fee per swipe. This amounts to tens of thousands of dollars per year that small business owners are forced to pay credit card processing companies to operate their business. The Credit Card Competition Act encourages competition between processing networks, which will help drive down swipe fee costs for small businesses.
Senators Dick Durbin (D-Illinois) and Roger Marshall, M.D. (R-Kansas) reintroduced the bipartisan Credit Card Competition Act. Additionally, the administration endorsed the legislation on Jan. 13. Senator Durbin spoke on the Senate floor about the impact of high swipe fees on America’s small businesses. In his speech, Senator Durbin provides examples from two Illinois small business owners and NFIB members on how high swipe fees prevent hiring, hurt business growth, and why it’s time for Congress to take action.
Passing this bill will help small businesses nationwide reduce overhead costs and allow them to invest in their employees, products, and communities.
Take Action: Urge Congress to pass the Credit Card Competition Act and give small businesses freedom of choice between credit card processing networks.
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NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
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