The Tribal Convenience Store Association recently submitted a letter to Congressional leadership urging swift passage of the Credit Card Competition Act (CCCA), legislation aimed at increasing competition in the credit card processing market and lowering costly swipe fees for merchants.
In the letter, TCSA emphasized that credit card swipe fees are one of the largest and fastest-growing operating expenses facing Tribal convenience stores today. The association noted that many Tribal businesses operate on narrow margins and that excessive processing costs reduce the dollars available for reinvestment into Tribal economies, infrastructure, jobs, community services, and economic development initiatives.
TCSA highlighted that its membership now includes 69 Tribal Nations across 13 states and stressed that Tribal-owned convenience stores should benefit from the same competitive market forces that help control costs in other areas of business operations.
The association also pointed out that stronger Tribal enterprises benefit not only Tribal communities but also neighboring communities through investments in public safety, emergency services, infrastructure, local employment, and regional economic growth.
In closing, TCSA urged Congress to pass the Credit Card Competition Act and provide Tribal businesses with greater negotiating power, increased competition in payment processing, and the opportunity to keep more revenue working within Tribal communities.