The private sector delivered a free-market solution for businesses of all sizes
The Small Business – Credit Card Agreement delivers guaranteed savings to businesses right now — without government intervention. Interchange rates are reduced by 5%, capped at 1.25% for five to eight years, and guaranteed to save businesses $25 billion annually — no legislation required.
Congress doesn’t need to act. The market already did.
Bottom Line: The private sector delivered for Main Street. Mega-stores keep moving the goalposts — they want the service for free, and no deal will ever satisfy them.
5%
reduction in the average U.S. standard credit card interchange rates
1.25%
cap on the standard credit card interchange rate
$25B
in annual savings for businesses under the agreement
10 PTS
reduction in all Visa & Mastercard credit card interchange rates.
The loudest opposition: greedy corporate mega-stores and their lobbyists
Small businesses got guarantees. Corporate mega-stores want more.
Walmart’s greed is standing in the way of small business relief
“[Small businesses] traded away the interests of large national merchants for relief that is worthless to the members with the most at stake in this litigation.”
