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Illinois consumers deserve simple, secure, and convenient payments — but the Interchange Fee Prohibition Act threatens to make everyday purchases more complicated and costly.

According to The Points Guy, today’s card system works because interchange fees help “safeguard the purchase, fight fraud, cover the cost of lending, and fund rewards programs.” But the new law would prohibit interchange on taxes and tips — forcing businesses to overhaul how transactions are processed.

The result? Confusion and inconvenience at checkout. The article warns that a single purchase could become a multi-step process, with consumers potentially asked to split payments between cards, cash, or even checks just to cover taxes or gratuities.

Even worse, history shows consumers rarely benefit from policies like this. After federal debit reforms, only 1.2% of merchants lowered prices — meaning savings didn’t reach shoppers.

Instead of helping families, the Interchange Fee Prohibition Act risks weakening payment security, reducing rewards, and adding friction to a system that works today. Consumers deserve reliable, seamless payments — not uncertainty at the register.

Protect convenience. Protect security. Protect consumers. Read more from the Points Guy.

Paid for by Illinois Credit Union League