NEWS | Small Businesses Urge Senate Action on Credit Card Swipe Fees

Small businesses are intensifying their push for relief from rising credit card swipe fees as the Senate Agriculture Committee prepares to consider cryptocurrency market structure legislation this week.

ANALYSIS | The Merchants Payments Coalition letter underscores growing bipartisan momentum to rein in soaring credit card swipe fees—an issue NSBA has long supported as essential to protecting small businesses from excessive costs imposed by dominant card networks, including in prior congressional consideration of the Credit Card Competition Act.

---

JAN. 28, 2026 | On January 26, the Merchants Payments Coalition (MPC), joined by nearly 350 national, state, and local merchant trade associations, sent a letter urging the Committee to include the Credit Card Competition Act (CCCA) as an amendment to the crypto bill. The groups argue that swipe fee reform is urgently needed to protect Main Street merchants—particularly small retailers operating on thin margins—from escalating payment processing costs.

Credit card swipe fees have increased by roughly 70 percent since the pandemic, reaching a record $187.2 billion in 2024, making them the second-highest operating cost for many businesses after labor. According to merchant advocates, these fees ultimately raise prices for consumers by nearly $1,200 per year for the average family.

The amendment, offered by Senators Roger Marshall (R-KS), Richard Durbin (D-IL), and Peter Welch (D-VT), would incorporate the core provisions of the CCCA into the crypto legislation. Like the standalone bill, the amendment would apply only to large financial institutions with at least $100 billion in assets, while exempting community banks and nearly all credit unions. The proposal would require qualifying banks to enable credit cards to be processed over at least two unaffiliated networks, allowing merchants to choose among competing options and fostering competition on fees, security, and service.

Supporters note that the amendment differs slightly from the reintroduced CCCA in that enforcement would rely on antitrust remedies rather than Federal Reserve regulation. President Donald Trump recently endorsed the CCCA, calling it necessary to curb what he described as the “out-of-control swipe fee ripoff.”

For small businesses, the stakes are significant. Visa and Mastercard currently control about 80 percent of the credit card market and centrally set swipe fees, while restricting access to alternative processing networks. Advocates argue that introducing competition could save merchants and consumers an estimated $17 billion annually, without affecting rewards programs or consumer card use.

NSBA will continue monitoring developments closely and keep members informed as the Senate considers action that could meaningfully reduce costs for small businesses and improve competition in the payments marketplace.

Read the full letter here.