By: Jennifer Hatcher, Chief Public Policy Officer & Senior Vice President, Government Relations
Americans pay the highest card swipe fees in the world every time they use a credit or debit card. The credit and debit card companies collect nearly $79 billion each year in these fees. What’s more, consumers may not even realize they are paying these hidden fees ranging from 23 cents to $4 every time they use their cards. In a society that often chooses plastic over coins and cash, this is simply outrageous, and shoppers should not be forced to pay a penalty for using their debit cards – a card that should be less expensive and faster.
FMI has launched a digital campaign that shines a light on the clandestine swipe fee practices of banks and credit card companies. We need your help supporting this campaign, engaging associates and customers in telling Congress to keep successful debit reforms and competition in place. The campaign against unfair swipe fees is built around the community, Citizens Against Unfair Swipe Fees. Your voice is critical and needs to be heard! Below are eight steps of how you can be involved:
- Visit the website: unfairswipefees.com;
- Like the Facebook page;
- Like, comment and share Facebook content;
- Follow @unfairswipefees on Twitter;
- Use the hashtag #unfairswipefees on your social media posts;
- Favorite, retweet and comment on tweets;
- Take a stand and send a letter to your Member of Congress via the website urging them to oppose big banks taking money from your pockets and trying to reduce competition; and
- Help educate your customers on how these fees impact their personal finances and grocery prices.
FMI wants to be an ally for you, and we will continue to fight for your businesses and customers on Capitol Hill. We have resources to help you engage your customers in the fight against unfair fees. We appreciate your support of this campaign.