On August 4, 2026, President Trump publicly endorsed the Credit Card Competition Act, calling swipe fees a “ripoff.” The bill would require large banks to give merchants a routing choice beyond Visa and Mastercard on every card transaction. US merchants paid $198 billion in swipe fees last year, up more than 80% since COVID. Routing choice at the network level is the mechanism at stake in Washington, and payment orchestration already gives merchants that choice at the transaction level today.