JCN Calls Out Phony Small Business Group Peddling Misleading Narrative on ‘Swipe Fee’ Reform
Washington, D.C. (November 16, 2023)—The Job Creators Network (JCN), a leading small business advocacy organization, is working to educate policymakers about the benefits of free market credit card reform. The current anti-competitive payments landscape—dominated by Visa and Mastercard—is fueling ballooning credit card “swipe fees” that are hammering small businesses.
That’s why JCN is supporting the Credit Card Competition Act. It’s bipartisan federal legislation that would foster competition within the credit card market to lower costs for small businesses. Now, a phony group called the “Small Business Payments Alliance” is undermining these efforts by claiming Main Street is opposed to the bill—an assertion that couldn’t be further from the truth.
Polling from the Job Creators Network Foundation (JCNF) finds that an overwhelming majority (78 percent) of small businesses support the effort to lower credit card swipe fees. The campaign being waged by the Small Business Payments Alliance is misrepresenting the genuine concerns and interests of the small business community.
Alfredo Ortiz, President and CEO of Job Creators Network, released the following statement:
“The deception being deployed by groups like the Small Business Payments Alliance on the ‘swipe fee’ issue is alarming. The front group is pushing an agenda that will harm the very small business community they claim to represent. Our polling clearly shows small businesses are solidly behind the Credit Card Competition Act. Groups that unjustifiably trade in on the credibility of Main Street need to be swiftly called out.”