Visa and Mastercard’s swipe fees cost families $900 annually

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Visa and Mastercard have a duopoly on the card swipe fees charged to consumers. It costs the average family about $900 per year in fees, way higher than Europe.

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The Credit Card Competition Act is moving thru Senate hearings. This would introduce more competition into the market to bring down these hidden fees.

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Plenty of companies would lend the money to Americans at a much more reasonable rate. Break them up and get more competition.

— Master Chief (@BasedSierra117) November 19, 2024

Visa and Mastercard’s swipe fees cost families $900 annually—Senate eyes reform.

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