Reining in Credit Card "Swipe" Fees to Support New York Restaurants
New York restaurants face significant costs, and one of the biggest you might not see directly: interchange or “swipe” fees. These are charges imposed by the major credit card companies every time a customer pays with a card.
TAKE ACTION!
CLICK HERE to stand with NYSRA and urge your state legislators to Limit Interchange Fees Now!
HOW THEY HURT YOU: These fees are a percentage of the entire transaction, meaning you pay them even on the sales tax you’re just collecting for the state and the tips meant for your staff. It’s like being charged for handling money that isn’t yours!
WHAT NYSRA IS DOING: We’re advocating for a straightforward solution: New York State should use its existing authority to prohibit credit card companies from charging interchange fees on state sales tax and tips.
WHY THIS MATTERS: This won’t cost the state a dime but will provide significant relief to local restaurants, putting an estimated $8,000 per year back into the average full-service establishment. This boosts our local economy and eases a major financial burden.
Please reach out to Kevin Dugan, NYSRA Government Affairs Director, with any questions or feedback at kevin@nysra.org