Credit Card Fees

• Small businesses are getting a break on credit card fees starting next year

  Many Canadian small businesses will face lower fees on their credit card transactions after a deal struck between the government, Visa and Mastercard goes into effect.

  Consumer

  May 18, 2023
  
• Some N.S. retailers call for credit card payment fees to be lowered

  For every credit card transaction, retailers are charged a so-called interchange rate. It's a fee that's shared between credit card companies, payment processors and banks.

  Economy

  Feb 28, 2023
  
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• Canadian businesses can now add credit card surcharges as restrictions lift

  Canadians may see a jump in the number of businesses applying credit card use surcharges as restrictions on the practice lift Thursday.

  Money

  Oct 6, 2022
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• Paying by credit card? Most businesses in Canada can soon add surcharges for that

  New rules set to take effect this week will give small businesses the power to add a surcharge on some credit card transactions, with almost one in five merchants saying they will.

  Money

  Oct 5, 2022
• Credit card fees still top of mind for feds as merchants worry over COVID-19 delays

  The costs to merchants has jumped during the pandemic as more people use credit cards for purchases online and in-store buys that would previously have used cash.

  Canada

  Dec 24, 2021
• Canada reaches deals with credit card firms to cut merchant fees by about 10 basis points

  That could mean businesses save as much as $250 million per year, said Finance Minister Bill Morneau.

  Consumer

  Aug 9, 2018
• CIBC to pay back 1.4 million credit card customers for years of incorrect fees

  Average refunds of about $50 will be issued until October.

  Money

  Aug 3, 2018
• American Express introduces 8.99% low-rate credit card in Canada

  American Express has a new credit card that charges much lower interest compared with similar products in Canada.

  Money

  Aug 17, 2016
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• Walmart Visa battle will have unknown consequences for Canadian small businesses

  An association representing convenience-store owners says they are pleased that the world's largest retailer has highlighted hefty credit card fees, but is worried Walmart will gain an even larger competitive advantage.

  Jun 16, 2016
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• Walmart to stop accepting Visa cards in Canadian stores

  An ongoing battle between Walmart and a credit card company will force Canadians Visa card users to find an alternative way to pay for their groceries in the near future.

  Canada

  Jun 11, 2016