Merchants Poll: Americans Want Swipe Fees Reduced

A new poll from the Merchants Payment Coalition finds strong voter support for congressional action on credit and debit card swipe fees. The survey says 75% of likely voters want lawmakers to reduce electronic processing fees charged on card transactions. The results arrive as state-level efforts face setbacks. A federal judge recently blocked Illinois’ Interchange Fee Prohibition Act, which would bar processing fees on the tax and tip portions of purchases. Similar legislation in Colorado was vetoed. Banks, credit unions, and payment processors oppose the Illinois measure, arguing it interferes with the payment system. Supporters say the fees raise costs for businesses and consumers.