Dick Durbin: “Visa and MasterCard control 85% of the credit card market.”

“Small business owners like Rick have little recourse. Visa and MasterCard have a near virtual grasp on the credit card network market, controlling about 85% of it. That's right. Visa and MasterCard control 85% of the credit card market. Give you an example of some other businesses that wrote to me in relation to this issue. Credit processing fees are crushing businesses, taking up to 4% for credit card sales.” (08:00–08:05)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.