Small businesses are the backbone of local communities, and we are fighting for policies that will allow them to expand and grow. For example, we oppose burdensome new regulations on peer-to-peer payment systems that will raise costs on small businesses and take away tools that reduce barriers to entrepreneurship.
Peer-to-peer payment platforms are a convenient, fast, and oftentimes, free way to receive and send money. Many small business owners rely on peer-to-peer payment services to conduct their businesses. Instead of having to handle cash or pay fees to accept credit cards, these businesses use services to get paid without having to invest in a costly checkout terminal or point-of-sale system.
As leaders debate policies that impact peer-to-peer payment services, we are urging them to consider the impact of policies on small businesses and the communities they support.