Credit Card Processing Rates

Credit Card Processing Rates

Twice a year, in April & October, Canadian credit card processing rates undergo an industry wide shuffle and the upcoming shift is going to have an especially large impact on merchants who store repeat customer data with their processor.

A new rate category has been created by Visa that identifies these Tokenized (or encrypted) customer profiles. Depending on what type of card it is, merchants will see an increase of between .07% and .40% when processing these types of transactions.

That’s the bad news. The good news is that a loophole exists that will allow potentially affected merchants to avoid this new rate category by following a special procedure on each repeat customer transaction.

If your business keeps a database of repeat customers, as most B2B credit granting organizations do, it’s very important that you discuss this with your processing account manager. #creditcardprocessing #tokenization #recurringpayments #repeatcustomer #creditmanagement

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