After I based Assured Flooring & Counter tops in Louisiana twenty years in the past, I by no means imagined how important bank card rewards would grow to be to our operations. Right now, they’re a essential instrument for managing our bills and staying aggressive.
Each month, we spend 1000’s on supplies, instruments, and transportation. Through the use of enterprise bank cards that supply rewards, we earn factors that assist us reinvest within the firm—whether or not it’s overlaying sudden prices, providing extra aggressive pricing, or retaining money stream regular throughout robust occasions. These rewards aren’t simply perks—they’re a part of a strategic monetary plan that helps us compete with big-box shops.
That’s why I’m deeply involved concerning the Durbin-Marshall bank card invoice in Congress, which might require banks to difficulty bank cards on a number of cost networks in an effort to power competitors, often called a routing mandate. On paper, this sounds innocent. However the actuality is that this invoice would result in a serious drop in interchange income—the very income stream that funds rewards applications small companies like mine want.
In response to a College of Miami examine, small companies might lose $1 billion in rewards if this passes.That’s cash that can be utilized to pay down balances, offset rising prices, and preserve money flowing the place it’s wanted most.
Worse, it might weaken the fraud protections we depend on each time we make a purchase order. Large retailers like Walmart and House Depot may need the leverage to climate these modifications—however small companies don’t. We are able to’t afford the added danger or the misplaced monetary help.
Small companies already face sufficient challenges. Congress shouldn’t dismantle a system that helps us thrive. Please stand with small companies and reject the Durbin-Marshall invoice. The very last thing we’d like is extra rules to face in our means.
Philip Ruiz
Assured Flooring & Counter tops
4396 Perkins Rd, Baton Rouge, LA 70808
Cellphone: (225) 291-4800
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June Hazeur Information Information Weekly Contributor Chakula cha Jua born McNeal Cayette in New Orleans, Louisiana, handed away at New Orleans
