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Merchants welcome Trump's continued backing of Credit Card Competition Act

Tuesday, August 04, 2026 — 02:38:41 (UTC)

Merchants Welcome Trump’s Continued Backing of Credit Card Swipe Fee Legislation

WASHINGTON, August 3, 2026 — The Merchants Payments Coalition today thanked President Donald Trump for reiterating his support for the Credit Card Competition Act.

“Roger is working tirelessly to pass the Credit Card Competition Act, in order to stop the out of control Swipe Fee ripoff!” Trump said in a Truth Social post tonight that endorsed Kansas Sen. Roger Marshall for re-election. Marshall is the lead Senate Republican sponsor of the CCCA and Trump included the legislation along with his work to “Grow our Economy” and address other issues.

“We welcome the president once again backing this landmark bipartisan bill that would help restore affordability to our nation’s economy,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “This is the second time President Trump has called for credit card swipe fee reform, and his continuing commitment shows that concern over these fees has reached the highest level. With President Trump and members of Congress from across the political spectrum seeking passage, it’s time to turn this legislation into law.”

Trump first endorsed the CCCA in January, when he said, ““Everyone should support great Republican Senator Roger Marshall’s Credit Card Competition Act, in order to stop the out of control Swipe Fee ripoff.” In addition to Trump’s support, Vice President J.D. Vance was a sponsor of the legislation while a member of the Senate.

The CCCA would address credit card swipe fees, which have jumped 80% since the pandemic. Combined credit card and debit card swipe fees hit a record $198.25 billion in 2025 and are most merchants’ highest operating cost after labor, driving up prices by more than $1,200 a year for the average family. The fees are rising largely because of lack of competition — Visa and Mastercard, which control 80% of the market, each centrally set the swipe fee rates charged by all banks that issue cards under their brands and restrict processing to their own networks.

Under the bill, banks with at least $100 billion in assets would enable credit cards to be processed over at least one unaffiliated network like Star, NYCE or Shazam in addition to Visa or Mastercard. The measure is expected to result in competition over fees, security and service that would save merchants and their customers $17 billion a year.

About MPC The Merchants Payments Coalition represents retailers, supermarkets, convenience stores, gasoline stations, online merchants and others fighting for a more competitive and transparent card system that is fair to consumers and merchants. Follow MPC on Twitter, Facebook or LinkedIn for the latest on swipe fees.

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Source: Company press release.

Categories: Announcement