Weigel’s and St. Romain Oil Co. have joined forces with the National Association of Convenience Stores (NACS) and Rovertown to introduce swipe fee reform messaging within their mobile applications. This initiative aims to educate consumers about the often-overlooked costs associated with credit card transactions.
Raising Awareness Through Technology
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Weigel’s is No. 79 on CSP’s 2024 Top 202 ranking of convenience store chains by store count.
When customers engage with the app to learn more about swipe fees, they are directed to a dedicated NACS page that outlines the issue and offers an easy way to contact their congressional representatives. Since the launch of this initiative in December, nearly 3,000 letters advocating for reform have been sent.
Visa and Mastercard dominate the U.S. credit card market, controlling approximately 83% and setting the fees that banks charge retailers for processing transactions. According to NACS, this lack of competition in swipe fee pricing has led to a staggering increase in costs, with swipe fees soaring from billion in 2010 to over 2 billion in 2023. Consequently, the U.S. now faces some of the highest card processing fees globally, creating a significant financial strain on both retailers and consumers.
“Swipe fees are an invisible tax on every purchase, and most consumers don’t realize they’re paying it,” remarked Doug Yawberry, president at Weigel’s. “By incorporating awareness messaging into our app, we’ve empowered many individuals to take action—demonstrating that when customers grasp the issue, they demand change.”
According to NACS, the average U.S. household incurs an estimated ,100 annually in swipe fees. “Customers are often surprised to learn how much swipe fees impact them directly,” noted Annie Gauthier, co-CEO at St. Romain Oil Co. “By raising awareness and driving action, we’re helping shine a light on this hidden cost that affects everyone.”
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