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About Letters to the Editor at Decaturish

At Decaturish, we welcome letters to the editor as a platform for sharing diverse opinions and perspectives. Letters submitted to the editor represent the views of the authors and not necessarily those of Decaturish.com. We believe in providing an equal opportunity for individuals to voice their thoughts and concerns through this medium. If you disagree with something published on our platform, we encourage you to express your viewpoint by submitting a letter of your own.

All letters must be signed and typically range between 500 to 800 words. While we have the right to edit letters for length and content, we may choose to publish longer letters if necessary. To submit your letter to the editor, kindly email it to [email protected].

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Dear Decaturish,

Nearly 2,000 merchants and retailers, including hundreds of small businesses like mine, submitted a letter to Congress endorsing the passage of the Credit Card Competition Act (CCCA). This bill, aimed at addressing the escalating financial burden of credit card swipe fees, garnered support from various industry associations, including the Georgia Alcohol Dealers Association, the Georgia OilmenÔÇÖs Association, and the Georgia Retail Association.

I am the proprietor of the Purple Corkscrew Wine Shop & Tasting Room in Avondale, offering a unique selection of boutique wines. Since commencing operations in 2013, I have been subjected to credit card swipe fees on every transaction, with costs ranging from 1.5% to 3.5%. These fees, a significant operational expense for small businesses, cumulatively amount to considerable sums. In 2023, Georgia businesses collectively paid an estimated $2.7 billion in swipe fees.

Some months, my swipe fees exceed $500, diverting funds that could otherwise be allocated to enhancing customer experience or expanding inventory. The dominance of major players like Visa and Mastercard, controlling over 80% of the market, perpetuates a fee structure that disproportionately impacts small businesses. The need for relief from swipe fees is urgent, as these expenses erode profit margins and necessitate price adjustments across the board.

Increased pricing not only affects credit card users but also impacts underprivileged communities who bear the brunt of swipe fees without reaping credit card rewards. Supporting the CCCA is vital to introducing competitive alternatives in transaction processing, fostering innovation, and promoting fair fee structures.

Despite opposition from influential financial entities, advocating for the CCCA is crucial to safeguarding the interests of Main Street businesses like mine. I urge Senators Jon Ossoff and Raphael Warnock to champion this cause to alleviate the financial burdens faced by small businesses and promote equitable practices in the credit card industry.

ÔÇö Steffini Bethea

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