Washington, D.C. – The Nationwide Grocers Affiliation (NGA) urges the swift passage of the Credit score Card Competitors Act, which Sens. Marshall (R-KS) and Durbin (D-IL) filed as an modification to the Digital Commodity Intermediaries Act, as a vital step towards restoring competitors in a cost system that’s driving up prices for small companies and customers alike.
Extreme bank card swipe charges proceed to burden unbiased grocers, who function on razor-thin margins and can’t negotiate with dominant card networks that management a lot of the market.
“This laws is urgently wanted to repair a bank card market that’s basically damaged and stacked in opposition to small companies, particularly unbiased neighborhood grocers,” mentioned Max Wengroff, NGA’s senior authorities relations supervisor. “Visa and Mastercard dominate the system, set charges unilaterally, and block significant competitors, leaving grocers with no alternative however to soak up or move on rising swipe charges. The Credit score Card Competitors Act would introduce actual competitors, decrease prices, and assist guarantee households are usually not paying greater grocery costs just because the funds market lacks fundamental equity,” Wengroff concluded.
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Concerning the Nationwide Grocers Affiliation
NGA is the nationwide commerce affiliation representing the retail and wholesale neighborhood grocers that comprise the unbiased sector of the meals distribution business. An unbiased retailer is a privately owned or managed meals retail firm working quite a lot of codecs. The unbiased grocery sector is accountable for about 1.2 % of the nation’s general economic system and is accountable for producing greater than $250 billion in gross sales, 1.1 million jobs, $39 billion in wages and $36 billion in taxes. NGA members embody retail and wholesale grocers positioned in each congressional district throughout the nation, in addition to state grocers’ associations, producers and repair suppliers. For extra details about NGA, go to www.nationalgrocers.org.
