16 Mar Credit Card Processing Fees
Recent American credit card processing fee announcements are stirring up all kinds of drama South of the border. Certain merchant categories will see their rates decrease, but many segments will be paying more come the 1st of April. Small business advocates and a number of prominent politicians are questioning the timing of these hikes.
Fortunately, Canadian credit card processing fees are remaining stable this time around. There’ll be a small increase in foreign card fees, but that’s all we’re facing.
Twice a year, in April and October, the body that governs Canadian credit and debit card processing enacts fee changes. We are now in the clear for another 6 months.
UPDATE
Breaking news: under some pretty significant pressure, Visa & MasterCard have both announced that planned US rate increases will be delayed until at least April 2022.
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