The Credit Card Competition Act is a direct threat to our electronic payments system and the locally owned, independent businesses, entrepreneurs, and tradespeople who use credit cards.

SBPA is fighting to ensure the payments system keeps working for all of us.
Credit card issuers spend an estimated $100 billion on rewards and partner payments, funding the cash back and points programs small businesses need
Customers spend 5x more when using credit cards vs. cash
In 2021, our electronic payment system stopped $80 billion in fraud attempts

Take Action

Washington needs to hear from you, not just the big box retailers who stand to benefit the most. Tell Congress how important credit cards and our electronic payments system are to your business operations.

Submit a Video

Tell Congress to protect your credit card and oppose the so-called Credit Card Competition Act with a personalized video.

Add your voice

Write an op-ed to share how our credit card system benefits you and your small business.

Testimonials

Marie Westbrook, 35
Owner of Le Petit Bakery

Jeremy Ranbull, 58
Director of InGenew Dance Studios

Leslie Ardiff, 63
CEO of Pinpoint Factories

Jasmine O’Deveaux, 47
Founder of Point Bit Bout Inc.

In the News

SMALL BUSINESS ELECTRONIC PAYMENTS STATUS REPORT

Small businesses are the backbone of the American economy. The nation’s 33.3 million small businesses employ 61.6 million Americans – almost 46 percent of the private sector workforce. Small businesses across the country rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.

Communities of color would be worse off under proposed credit card policy

Melanated communities in Colorado and across the country have historically and perpetually faced systemic barriers to credit and banking access. Melanated communities are already chronically underbanked, including 27% of Black families and 18% of Hispanic families. And, too often for those who are “banked,” the understanding of how to use these accounts for their benefit while keeping money in interest-bearing accounts and investments is not the norm.

Credit Card Competition Act: ‘Unintended consequences’

The Credit Card Competition Act, imposing routing mandates on credit cards, would shift billions in consumer spending to less secure processing firms that would weaken the nation’s payment system. It will likely lead to even more private consumer information being made available to foreign networks (e.g.; China and Russia).

Resources

Imposing Alternative Payment Networks on Credit Cards Will Likely Hurt Low Income Households and Small Merchants

This research note finds the proposed Credit Card Competition Act (CCCA) will likely generate between $13 billion and $15 billion in transfers to merchants from financial institutions and consumers. However, this distributional analysis finds almost all of those savings will accrue to retailers with $500 million in sales or more—none of which constitute small businesses under the Small Business Administration’s (SBA) definition.

Protecting Consumers During Holiday Shopping Season

The Holiday Season is in full swing and as consumer spending rises, so too do fraud attempts. According to a 2022 study by AARP, three out of four U.S. adults age 18-plus have been targeted by or experienced at least one form of fraud. Fortunately, more and more consumers and merchants are using credit cards to protect themselves against financial losses.

SBPA SMALL BUSINESS SATURDAY REPORT 2023

Small Business Saturday is an annual shopping event that takes place on the Saturday following Thanksgiving. Since 2010, the initiative has encouraged consumers to support local small businesses. The idea draws a stark contrast to Black Friday and Cyber Monday – two other big holiday shopping days that are dominated by mega corporations.

In the News

SMALL BUSINESS ELECTRONIC PAYMENTS STATUS REPORT

Small businesses are the backbone of the American economy. The nation’s 33.3 million small businesses employ 61.6 million Americans – almost 46 percent of the private sector workforce. Small businesses across the country rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.

Communities of color would be worse off under proposed credit card policy

Melanated communities in Colorado and across the country have historically and perpetually faced systemic barriers to credit and banking access. Melanated communities are already chronically underbanked, including 27% of Black families and 18% of Hispanic families. And, too often for those who are “banked,” the understanding of how to use these accounts for their benefit while keeping money in interest-bearing accounts and investments is not the norm.

Credit Card Competition Act: ‘Unintended consequences’

The Credit Card Competition Act, imposing routing mandates on credit cards, would shift billions in consumer spending to less secure processing firms that would weaken the nation’s payment system. It will likely lead to even more private consumer information being made available to foreign networks (e.g.; China and Russia).

Maintaining a modern, safe, and secure electronic payments ecosystem

SBPA was formed in the wake of proposed changes to the electronic payments system that will jeopardize credit card access and benefits. Tradespeople, entrepreneurs, and locally-owned, independent businesses alike use credit cards to support their workers, manage their cash flow, cover operating costs, and amass rewards points to re-invest in their businesses. Credit cards also ensure that their customers can make safe, secure, and convenient payments. The current competitive, free market credit card ecosystem provides major benefits to both small businesses and American consumers, and we’re making sure it stays that way.