WASHINGTON, D.C. – The Electronic Payments Coalition reissued a fact sheet highlighting the factually inaccurate campaign by supporters of the Durbin-Marshall credit card mandates, who are attempting to use the Iran conflict and subsequent rising gas prices to advance harmful legislation.
Despite their rhetoric, interchange processing costs are voluntarily capped at roughly $1.02 per fill-up, regardless of the total purchase amount. With the national average price of gas at approximately $4.00 per gallon, interchange is no longer charged after 13 to 14 gallons. However, fuel stations continue to charge customers more for credit card purchases and do not pass along these savings to consumers.
The campaign also ignores the blatant facts that gas prices are largely driven by the price of crude, which has increased about 40% over the last year, and federal and state taxes, which average about $0.50 on every gallon purchased without a cap.
“This is the same tired playbook from corporate mega-stores and their allies,” said Electronic Payments Coalition Executive Chairman Richard Hunt. “They ignore the facts, twist the data, and hope no one notices —now even using global instability like the Iran conflict to make misleading claims about gas prices. The reality is card processing costs have remained flat for years while businesses benefit from more sales, stronger security, and faster, more efficient payments. If these retailers truly cared about consumers, they would pass along the discounts they already receive, especially at the gas pump, instead of trying to rig the system to boost their own margins. These mandates are not about competition or lowering prices. They are about corporate mega-stores cashing in while consumers and small businesses pay the price.”
EPC’s one-pager is available below.
