Weigel’s and St. Romain Oil Co. have partnered with the National Association of Convenience Stores (NACS) and Rovertown to integrate swipe fee reform messaging into their mobile apps.
Weigel's is No. 79 on CSP’s 2024 Top 202 ranking of convenience store chains by store count.
Customers who click to learn more are directed to a NACS page explaining the issue and providing a simple way to contact their congressional representatives. Since December, nearly 3,000 letters have been sent.
Visa and Mastercard control about 83% of the U.S. credit card market, setting the fees that banks charge retailers for processing transactions, according to NACS. Because these networks prevent banks from competing on swipe fee pricing, retailers are forced to accept whatever rates are imposed. As a result, swipe fees have quadrupled from $26 billion in 2010 to over $172 billion in 2023. With no competitive market to keep costs in check, the U.S. now has some of the highest card processing fees in the world, placing a growing financial burden on both retailers and consumers.
“Swipe fees are an invisible tax on every purchase, and most consumers don’t realize they’re paying it,” said Doug Yawberry, president at Weigel's. “By adding awareness messaging to our app, we’ve helped many people take action—proving that when customers understand the issue, they demand change.”
The average U.S. household pays an estimated $1,100 annually in swipe fees, according to NACS.
“Customers are often surprised to learn how much swipe fees impact them directly,” said Annie Gauthier, co-CEO at St. Romain Oil Co. “By raising awareness and driving action, we’re helping shine a light on this hidden cost that affects everyone.”
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