NACS Applauds President Trump’s Call to Cut Swipe Fees

President Trump last night during a speech in Dallas took a hard line on credit card swipe fees, noting they are a rip-off for everyday Americans and a key part of the country’s affordability crisis.

As he was addressing the Republican Party’s 2026 midterm convention, the president told the crowd, “We’ll cut out-of-control credit card swipe fees, saving the average family at least $1,200 per year. And we’ll not allow Americans to pay seven to eight times more for those fees than they do in any other country.”

“The president is right: Swipe fees are ripping off the American people and making almost everything we buy more expensive,” said Brennan Duckett, director of regulatory and policy at the NACS. “Visa and Mastercard have used their monopoly to make swipe fees in America the highest in the world. They are making everybody’s affordability problem worse.”

In the United States, total credit card swipe fees for gas and diesel exceed $60 million every day. The fees also drive-up prices on retail items by more than $1,200 a year for the average family.

The Credit Card Competition Act (CCCA), which is currently under consideration by Congress, would reduce swipe fees. It would require banks with at least $100 billion in assets to enable credit cards that they issue to be processed over at least two unaffiliated networks: Visa or Mastercard plus a competitor like NYCE, Star or Shazam. By forcing payment networks to compete over fees—as well as security and service measures—the CCCA is projected to save retailers and customers as much as $17 billion each year.

NACS will continue to advocate for the passage of the CCCA. You can also send emails to your lawmakers voicing your support for the CCCA through our Call to Action portal. The more industry voices that speak out on the issue, the higher the likelihood of getting a vote and winning that vote. Your participation matters and makes all the difference.