Swipe fees hit record $198B as reform efforts grow

WASHINGTON — Credit and debit card “swipe” fees reached a record $198.25 billion in 2025, an increase of 5.9% from the previous year, as pressure continues in Washington for action on rising payment costs, according to the Merchants Payments Coalition.

“Credit card swipe fees make just about everything Americans buy more expensive,” said Doug Kantor, MPC executive committee member and general counsel at the National Association of Convenience Stores. “Swipe fees set a new record by taking more of our money every year, and the impact on American families and small businesses is devastating.”

Credit card fees totaled $157.8 billion, including $118.8 billion from Visa and Mastercard, while debit card fees reached $40.5 billion. The coalition noted that swipe fees have more than tripled since 2009 and remain one of merchants’ highest operating costs, contributing to higher consumer prices.

“President Trump, lawmakers across the political spectrum, business groups, labor unions, consumer groups, Native American tribes and more are calling for bipartisan swipe fee reform,” Kantor added. “It’s time for Congress to make America affordable again by ending the swipe fee ripoff.”

The data comes as lawmakers consider the Credit Card Competition Act, a bipartisan proposal that would require large banks to allow transactions over competing networks. Supporters say this could save merchants and consumers more than $17 billion annually.