swipe fees

Weigel’s and St. Romain Oil Co. have partnered with the National Association of Convenience Stores (NACS) and Rovertown to implement swipe fee reform messaging in their mobile apps to educate consumers about credit card transaction costs. Since December, nearly 3,000 letters advocating for reform have been sent through the initiative. Visa and Mastercard control about 83% of the U.S. credit card market and set the fees banks charge retailers, leading to a rise in swipe fees from billion in 2010 to over 2 billion in 2023. The average U.S. household incurs approximately ,100 annually in swipe fees.