Over many years in the trailer business, I’ve learned a lot by listening to my customers. I know how hard they work, and many rely on their credit card rewards to lower their expenses. When someone swipes their credit card to buy a trailer, it’s not because they’re chasing luxury; it’s because they know that their transaction will be secure, and they’ll earn credit card rewards that can make a real difference in their monthly budget.

Credit cards have become an essential tool for many small businesses. As the owner of a construction company in Iowa, I use them on a daily basis. With the cost of raw materials rising year after year, we’ve relied on our business credit cards to pay for them, allowing us to earn rewards and keep costs down. Every purchase adds up, and being able to earn rewards helps us stretch budgets further.

Whether it’s processing a recurring subscription payment, selling advertising space, or helping effectuate payments for partner promotions, our business depends on a reliable electronic payment system that protects both us and our customers from fraudulent actors. That system, which is used by millions of businesses nationwide, stopped $80 billion in fraud attempts in 2022 alone—ensuring that businesses like ours don’t have to absorb costly fraudulent charges or put our customers’ financial information at risk.

As small business owners in Philipsburg, Montana, we understand how tourism shapes our local economy. From skiers heading to Discovery Ski Area to summer visitors exploring Georgetown Lake, our small town thrives thanks to the steady flow of visitors who come to experience the natural beauty of our corner of Montana and many of the small businesses in our town rely on tourists to stay afloat.

Any given day, you can walk by the Crumbl and find a line of eager cookie eaters lining up out the door. Our cookies have become a teen sensation that Gen Z can’t seem to get enough of.

You know what Gen Z also can’t get enough of? Tapping to pay with their credit cards.

As the president of the South Florida Hispanic Chamber of Commerce, I know how much Florida’s small businesses contribute to our local economies. They are the coffee shops, souvenir shops, restaurants, boutiques and service providers that make our communities unique and vibrant.

Atlanta resident and owner of Kayla’s Italian Ice Theresa Bostic said that she has significant concerns about the proposed Credit Card Competition Act, warning that it could jeopardize digital payment security and customer trust. She argues that while the bill is framed as support for small businesses, it may actually harm them by threatening essential financial resources and eliminating critical credit card rewards.

As the owner of a hospitality group with locations in North and South Carolina, I know from experience the benefits the existing credit card and electronic payments system offers. The current system helps us to streamline our operations, safely process transactions, and earn rewards to invest in our employees and back into the business. In addition, the current system also allows small businesses to earn rewards, which we have leveraged to stay afloat during the pandemic and used to invest in our employees.

As any small business owner knows, the customer experience is just as important as the quality of products or services we offer. For my wellness and beauty business, AN Skin & Beauty in O’Fallon, my customers expect and depend on being able to shop our products in my store and online with ease and peace-of-mind.