🚨President Trump has endorsed the Credit Card Competition Act. Americans pay swipe fees up to 2x higher than Canadians and 7x higher than Europeans due to Visa and Mastercard’s dominance.
That lack of competition costs U.S. families about $1,200 a year.pic.twitter.com/i7POhLWXgx
— Derrick Evans (@DerrickEvans4WV) January 27, 2026
A swipe fee (or interchange fee) is a charge, typically 1-3% of the transaction, that merchants pay to card networks like Visa/Mastercard and banks when a customer uses a credit or debit card.
As a consumer, you don’t pay these fees directly—merchants do. Paying off your card monthly avoids interest, but merchants often pass on the costs through higher prices, indirectly affecting all buyers.
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