According to entrepreneurs quoted in a November New York Times story, swipe fees can eat up 4 percent or more of their annual revenue, slicing nearly $20,000 out of a merchant’s yearly profits.

That’s why it’s critical for lawmakers to pass the Credit Card Competition Act (CCCA), which would drive down hidden swipe fees that are adding to the financial burden felt by so many.

New Jersey passed a new law recently that limits the amount of credit card surcharges, or so-called “swipe fees,” that businesses ... represented by the Merchant Payments Coalition, as ...

and the companies must negotiate the fees with merchant-buying groups. The law firm that announced the settlement put the value of the savings in swipe fees at close to $30 billion. The settlement ...

PHOENIX (AZFamily) — For years, credit card swipe ... card fees. The fees have gone up dramatically. In fact, since 2010, the fees have quadrupled,” said Doug Kantor, a member of the merchant ...