WICHITA, Kan. (KSNW) – On Friday, Aug. 26, Republican Sen. Roger Marshall was in Wichita pushing for his latest bill, the bipartisan Credit Card Competition Act, to bring in more competition to a multi-billion dollar industry.

Every time you use your credit card at a store, there’s a fee, and Sen. Marshall said it’s hurting business with risings costs.

The National Association of Convenience Stores said that over 1,200 convenience stores in Kansas paid $110 million in credit card swipe fees. They said that’s more than what they pay for utilities, and some say it’s costing a lot of businesses in the state.

“These fees have increased at a dramatic rate over the last decade but especially this year,” said Anna Blom, the Director of Government Relations for the National Association of Convenience Stores.

The National Association of Convenience Stores said credit card swipe fees are about 2.25% of each transaction, but the fee varies, creating confusion for business owners.

“There’s no transparency in the current market,” said Blom.

Sen. Marshall is offering a solution with his Credit Card Competition Act bill. It would offer more options outside of Mastercard and Visa when you swipe, hopefully bringing in competition and lower prices.

“We introduce competition. All we do is require that the credit card that the bank issues has two routers on it,” said Sen. Marshall.

Another router as an option would add to that competition. According to Sen. Marshall, two credit cards now control 83% of the industry. Not everyone is on board with this idea.

“We know Senator Marshall’s sincere in wanting to help small business. You know he represents Kansas, represents well. He’s a popular guy, and our members respect him, but you know, this is not going to do it,” said Jeffery Tassey, the Chairman of the Board of the Electronic Payments Coalition.

Tassey said this bill would have dire consequences if passed.

“All the cards would have to be reissued. All the contracts that we have with consumers, with merchants, and everyone else would have to be reissued,” said Tassey.

Tassey said if this bill is passed into law, there is a chance we will see credit card companies do away with their reward programs.