Op Ed Laments the Cost of Swipe Fees for Small-Business Owners

Kansas City restaurateur James Eddy calls for swipe fee oversight.

August 13, 2014

KANSAS CITY, Mo. – In an opinion piece for the Kansas City Star, local restaurateur James Eddy describes what he calls “a great hardship” for his business: credit cards.

According to Eddy’s column, accepting credit cards has changed from a competitive advantage to a requirement, yet the fees associated with it have risen unchecked by competition or regulation.

Eddy says his company (made up of full-service restaurants, a supper club, delis, a bowling alley, stadiums, convention centers and several Popeyes Chicken locations) spent about $125,000 on swipe fees in 2013, money which could otherwise have been used to offset rising energy and commodity prices, allowing our company to stave off price increases passed on to our customers.

“Growing our business and continuing to serve our friends and neighbors is important to me and my family. But our growth and ability to provide value to our customers is hampered by the unchecked practices of credit card companies,” Eddy wrote.

He continued, calling for change in the form of government intervention to fix what he called a “broken” market.

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