To the editor,

It is in the DNA of small businesses to do everything possible to keep prices down while serving their communities. But there’s one cost businesses can’t control and it’s being passed down to people across Ohio and the country. The swipe fees that are charged every time a customer pays with plastic are a hidden cost that we need to address.

The fees are set by a duopoly, and the lack of competition means small businesses and consumers are left with no choice. The nearly $3.5 billion (https://insights.cmspi.com/ccca-25) a year Ohio spends in swipe fees are dollars that businesses could be spending on hiring workers, expanding businesses, or keeping prices lower so consumers can keep more of their hard-earned money in their own bank accounts.

Enter: the Credit Card Competition Act. 

The bill would help break up the stranglehold of Visa and MasterCard and allow businesses to choose lower-cost alternatives. That’s exactly the kind of free-market reform conservatives should support.

Ohio is fortunate to have two senators who understand how the real economy works. Senator Bernie Moreno built his career as a business owner, and Senator Jon Husted’s experience working with the Dayton Area Chamber of Commerce means they both understand the unique challenges facing employers and entrepreneurs across our state better than most.

Their experience makes them well-positioned to champion policies that promote competition and support Ohio businesses. Supporting the Credit Card Competition Act would be a strong step in that direction.

John Morrow,

Former Wellsville City Councilman