U.S. swipe fees are among the highest in the world because just two companies control 80% of the credit card processing market. Unchecked by competition, U.S. swipe fees have more than doubled over the past decade. For most restaurants, processing credit card transactions is the third largest operating expense, behind food and labor. 

That’s why the Association supports the Credit Card Competition Act (CCCA), S.1838 /H.R. 3881. The CCCA is bipartisan legislation that would drive down the exorbitant swipe fees paid on every credit card transaction by creating competition in the broken credit card processing market. If passed, the CCCA will lower swipe fees, improve credit card security and service, and save U.S. businesses—including restaurants—and consumers an estimated $15 billion a year.

Without congressional action to promote free and fair competition in the credit card processing market, swipe fees will continue to skyrocket. This status quo is unsustainable for America's restaurants—9 in 10 of which are small businesses. Tell Congress to pass the Credit Card Competition Act to stem rising swipe fees here
Fact Sheets
Just the Facts on CCCA
April 15, 2024