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Petition to Lower Merchant Service Interchange Fees

Magnifying Glass Highlights Interchange Fees

The goal of this petition is to bring awareness and ultimately reduce the Banks fees that Merchants who accept credit cards are responsible for paying.


What are Credit Card Issuing Banks?

Banks that offer credit cards directly to consumers. Some examples of issuing banks that you have probably heard of are Capital One, Citi, Barclaycard, Chase, Wells Fargo, Bank Of America.

What Do Their Fees Consist Of?

These banks collect a percentage and transaction fee every time their issued credit card is swiped. All of these issued cards have a specific card association brand on them like Visa or MasterCard. Although the rates on these cards are public information and can be obtained, they are not advertised on the card for a merchant or business to see. The average rate on a credit card swipe is roughly 2.2% + $0.10. These rates equate to a minimum of 70%-90% of the total fees that merchant pays to accept credit card payments. Currently, these fees are non-negotiable.

What Are These Fees Used For?

These card issuing banks compete with each other trying to get consumers to sign up for their particular card by offering appealing rewards for using them to buy stuff on credit. They create different plans where they reimburse the consumer for every dollar spent with cashback, air miles, hotel points, dining dollars, etc..

Why Do We Think These Fees are Too High?

The rewards programs these issuing banks offer typically include an annual fee that is paid by the consumer. Moreover, these banks collect high interest on those consumers who do not pay their balance within the time frame dictated by the card agreement. According to a 2015 American Household Credit Card Debt Study, the total debt owed by U.S. consumers is over 700 billion dollars and growing. With all the of the interest collected from consumer debt and the annual fees that they charge, one would think that they should be able reduce their rates significantly and still be able to provide appealing offers to consumers all while making a healthy profit as a corporation.

What Can You Do?

You can start by signing the petition below in an effort to bring awareness to the U.S. Government that bank fees should be dramatically reduced. You can then proactively reduce the 10%-20% of the Merchant Service Providers negotiable fees – Learn More.  Lets spread the word and use our voice to support the small business community which is the back bone of our economy.

Please support our mission to reduce the high credit card fees collected by these establishments by signing the petition below:


Donnie Troy
Donnie Troy
1Quest Payment’s mission is to help as many merchants as possible find the best credit card processing solution so they can focus their time and energy on growing their business. Contact Donnie today, call 1.800.413.7573 or use our contact form