After I based Confident Ground & Counter tops in Louisiana 20 years in the past, I by no means imagined how necessary bank card rewards would grow to be to our operations. As of late, theyโre a important device for managing our bills and staying aggressive.
Each presen, we spend hundreds on fabrics, equipment, and transportation. By way of the usage of industry bank cards that do business in rewards, we earn issues that support us reinvest within the corporateโwhether or not itโs overlaying sudden prices, providing extra aggressive pricing, or preserving money stream stable all the way through difficult occasions. Those rewards arenโt simply perksโtheyโre a part of a strategic monetary plan that is helping us compete with big-box retail outlets.
Thatโs why Iโm deeply involved concerning the Durbin-Marshall bank card invoice in Congress, which will require banks to factor bank cards on a number of fee networks in an attempt to pressure pageant, referred to as a routing mandate. On paper, this sounds innocuous. However the fact is this invoice would supremacy to a significant shed in interchange incomeโthe very income tide that finances rewards methods tiny companies like mine want.
In keeping with a College of Miami find out about, tiny companies may just lose $1 billion in rewards if this passes.Thatโs cash that may be impaired to pay unwell balances, offset emerging prices, and book money flowing the place itโs wanted maximum.
Worse, it will weaken the fraud protections we depend on each moment we create a purchase order. Obese outlets like Walmart and House Store would possibly have the leverage to climate those adjustmentsโhowever tiny companies donโt. We willโt have enough money the added chance or the misplaced monetary backup.
Miniature companies already face plenty demanding situations. Congress shouldnโt dismantle a machine that is helping us thrive. Please get up with tiny companies and abjure the Durbin-Marshall invoice. The closing factor we want is extra rules to get up in our means.
Philip Ruiz
Confident Ground & Counter tops
4396 Perkins Rd, Baton Rouge, LA 70808
Telephone: (225) 291-4800
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