The outdoor hospitality industry is under pressure as small businesses struggle with the financial burden of high swipe fees. The Credit Card Competition Act (CCCA) aims to inject competition into the market, but its passage remains uncertain. OHI's Capitol Hill fly-in brought together 17 campground owners and operators from across the country to advocate for the legislation.
The CCPA is a bipartisan bill that would require VISA and Mastercard to offer merchants a choice of at least two unaffiliated processing networks. This move could bring about much-needed competition and transparency to the credit card payments market, which is currently dominated by a handful of powerful companies.
According to OHI's Chief Strategy Officer David Basler, swipe fees are one of the largest expenses outdoor hospitality businesses face, with costs rising year after year. The lack of meaningful competition in the market has allowed fees to rise unchecked, resulting in higher prices for consumers.
The Credit Card Competition Act is a common-sense fix that brings fairness and real competition back to the market,
The lack of competition in the credit card processing market has led to rising swipe fees.
