FOR IMMEDIATE RELEASE
Contact: J. Craig Shearman
(202) 257-3678 craig@shearmancommunications.com
WASHINGTON, April 22, 2026 — Rapidly growing credit card “swipe” fees that President Donald Trump calls a “ripoff” could cost consumers nearly $900 million this Mother’s Day, the Merchants Payments Coalition said today.
"Credit card swipe fees are taking carnations right out of every mom’s bouquet this year,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “When these fees inflate the cost of flowers, or a special brunch for Mom, Americans’ dollars don’t go as far as they should. Credit card companies make life less affordable every day for Mom — and the rest of the family. Do Wall Street banks and credit card companies even care that it’s Mother’s Day?"
The National Retail Federation’s annual survey found consumers celebrating the May 10 holiday plan to spend an average $284.25 per person for a total of $38 billion.
Based on the 2.36% average swipe fee charged to merchants for Visa and Mastercard credit cards, that would include $6.71 per shopper in swipe fees and would total $896.8 million if all purchases were made with credit cards. That can be as much as half a dozen carnations — the official flower of Mother’s Day. Card company contracts make cash discounts difficult, so swipe fees mean all consumers pay higher prices regardless of the form of payment.
MPC estimates that swipe fees will account for $177 million of the $7.5 billion NRF says consumers plan to spend on jewelry, $151 million of $6.4 billion spent on “special outings” like dining out, $103.8 million of $4.4 billion spent on electronics, $75.5 million of $3.2 billion spent on flowers and $30.7 million of $1.3 billion spent on greeting cards.
Swipe fees on specific purchases can vary widely, starting at 12 cents on a $5 greeting card. A Mother’s Day brunch with drinks and tip can easily run $200 for a family of four, including swipe fees of about $5 — and can be far more at high-end restaurants in major cities. Swipe fees would amount to $7 on a $300 silver-and-gold “Mom” necklace and could be hundreds of dollars on high-end fine jewelry.
Credit and debit card swipe fees have increased 80% since the pandemic, reaching a record $198.25 billion last year. They are most merchants’ highest operating cost after labor and are too much to absorb, driving up prices by more than $1,200 a year for the average family.
The impact on Mother’s Day comes as Congress is considering the bipartisan Credit Card Competition Act, which Trump endorsed in January to “stop the out of control Swipe Fee ripoff.”
Visa and Mastercard — which control 80% of the market — each centrally set the swipe fees charged by banks that issue cards under their brands, and also block transactions from being processed over other networks that could do the job with lower fees and better security. Under the bill, require banks with at least $100 billion in assets would enable cards they issue to be processed over at least two unaffiliated networks — Visa or Mastercard plus a competitor like NYCE, Star or Shazam. The measure is expected to result in competition over fees, security and service that would save merchants and consumers $17 billion a year.
About MPC
The Merchants Payments Coalition represents retailers, supermarkets, convenience stores, gasoline stations, online merchants and others fighting for a more competitive and transparent card system that is fair to consumers and merchants. Follow MPC on Twitter, Facebook or LinkedIn for the latest on swipe fees.
