Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this10:20 am
April 6, 2013
Offline
In the latest budget, the federal government is looking for another cut to credit card interchange fees. That could cause another round of cuts to credit card rewards.
From McCarthy Tétrault article Budget 2021: Financial Institutions Update:
Payments Regulation – Lowering Interchange Fees, Implementing the Retail Payments Oversight Framework and Amendments to PCSA
The federal government announced that it will engage with key stakeholders with respect to interchange fees to work towards three objectives: (i) lowering the average overall cost of interchange fees for merchants, (ii) ensuring that small businesses benefit from pricing that is similar to large businesses and (iii) protecting existing rewards points of consumers.Following these consultations, next steps will be outlined as part of the Fall Economic Statement, including legislative amendments to the Payment Card Networks Act that would provide authority to regulate interchange fees, if necessary.
…
8:06 pm
December 4, 2016
Offline
This article says it is the third time in seven years:
The article also says its due to the effects of the pandemic on small businesses.
The form of payment more common during the pandemic and continue post pandemic have higher interchange fees. Like online and mobile tap terminal payments.
Way less cash payments.
Liked the read.
Thanks for posting the news about it.
Edit: The article is under a paywall. I copied and pasted the address into another browser and it worked again. The link may or may not need you to do this. The first time I used the link there was no paywall. The second time there was a paywall.
8:28 pm
April 6, 2013
Offline
One can see it in the interchange rates for the different card use methods.
These are some of MasterCard Canada's interchange rates (effective August 2020):
| Transaction type | Core | World | World Elite |
| Contactless (Tap) | 0.87% | 1.16 | 1.48% |
| Card Present EMV (Chip & PIN) |
0.92% | 1.22% | 1.56% |
| SecureCode / 3DS | 1.50% | 1.70% | 1.90% |
| Digital Commerce | 1.76% | 2.00% | 2.24% |
The first two rows are interchange rates for in-person, card-is-present use. The last two rows are for online, card-not-present use.
8:57 am
November 18, 2017
Offline
Handy note: most periodicals using paywalls allow one to three "free" articles per month. This may be why user230's link worked once but not again. To read after hitting the paywall, clear your cookies. If you need to save some cookies, use the cookie management option of your browser to find and remove the paywall by source name.
RetirEd
At least until they wise up to this...
RetirEd
Please write your comments in the forum.