Credit Card Fees
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Small businesses are getting a break on credit card fees starting next yearMany 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.ConsumerMay 18, 2023
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Some N.S. retailers call for credit card payment fees to be loweredFor 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.EconomyFeb 28, 2023
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Canadian businesses can now add credit card surcharges as restrictions liftCanadians may see a jump in the number of businesses applying credit card use surcharges as restrictions on the practice lift Thursday.MoneyOct 6, 2022
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Paying by credit card? Most businesses in Canada can soon add surcharges for thatNew 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.MoneyOct 5, 2022
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Credit card fees still top of mind for feds as merchants worry over COVID-19 delaysThe 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.CanadaDec 24, 2021
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Canada reaches deals with credit card firms to cut merchant fees by about 10 basis pointsThat could mean businesses save as much as $250 million per year, said Finance Minister Bill Morneau.ConsumerAug 9, 2018
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CIBC to pay back 1.4 million credit card customers for years of incorrect feesAverage refunds of about $50 will be issued until October.MoneyAug 3, 2018
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American Express introduces 8.99% low-rate credit card in CanadaAmerican Express has a new credit card that charges much lower interest compared with similar products in Canada.MoneyAug 17, 2016
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Walmart Visa battle will have unknown consequences for Canadian small businessesAn 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 storesAn 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.CanadaJun 11, 2016
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