Demand Progress

Visa and Mastercard control between 77 and 85% of all credit card transactions, which means they can charge outrageous fees that cost the average family $1,200 per year. And they’re fighting hard to maintain their market control so they can keep robbing us.¹

New legislation, the Credit Card Competition Act, would fight back by opening up competition to other payment processors, leading to lower prices for all.

But the credit card giants and financial services industry have dumped nearly $200 million to stop the bill.² Congress must hear constituent pressure now to counter the millions in lobbying trying to block market competition and lower costs.

Sign the petition: Don't give in to Visa and Mastercard. Pass legislation to lower credit card fees!

All consumers pay more at stores, online, and at the pump due to the anticompetitive practices of Visa and Mastercard. Merchants pass these fees, which are much higher than the actual costs to the credit card giants, on to consumers.³

Senator Dick Durbin, one of the Senate sponsors of the Credit Card Competition Act, said, "By bringing real competition to credit card networks, which is currently dominated by the Visa-Mastercard duopoly, we can reduce swipe fees and hold down costs for Main Street merchants and their customers."⁴

Congress must represent the people, not financial services CEOs. It's time to break open market competition for payment transactions.

Sign the petition: Pass the Credit Card Competition Act!

Sources:

1. Demand Progress, "New Report Exposes Credit Card Industry Money and Deceit" July 24, 2026.
2. Ibid.
3. Demand Progress, "Letter: Endorsement of Credit Card Swipe Fee Reform Legislation" January 21, 2026.
4. Office of Senator Dick Durbin, "Durbin, Marshall Reintroduce The Credit Card Competition Act," January 13, 2026.