NFIB Launches Ad Campaign Thanking Senator J.D. Vance for Supporting Credit Card Competition Act

June 26, 2023

New statewide campaign includes radio and digital ads

NFIB Launches Ad Campaign Thanking Senator J.D. Vance for Supporting Credit Card Competition Act

The National Federation of Independent Business, the nation’s leading small business advocacy organization, launched a new statewide ad campaign today, thanking Senator J.D. Vance for co-sponsoring the Credit Card Competition Act of 2023. The measure would help Ohio’s small businesses by giving owners choices between credit card processing networkers. The campaign includes radio and digital ads, that start airing today. Listen to the radio ad here: https://youtu.be/IAYeBMbon50 “Small businesses operate on notoriously thin profit margins, and those margins have become even thinner because of credit card swipe fees,” said NFIB Ohio State Director Chris Ferruso. “Swipe fees are a fee the credit card companies charge for processing a transaction. Banks don’t compete on swipe fees, which have doubled since 2012. “Inflation has only exacerbated the problem by effectively multiplying swipe fees as a percentage of each sale,” Ferruso added. “Senate Vance’s legislation would fix this by allowing small businesses to choose between at least two credit card networks to process a sale. This competition would mean lower fees on credit card transactions, and that would let small businesses save money during these difficult economic times.”

Topics:

Competition

State:

Ohio

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