Visa, MasterCard to cut credit card interchange fees in Canada

Visa Inc. and Mastercard Inc. have voluntarily agreed to cut the fees they charge to retailers for credit transactions, the Canadian government said on Tuesday, adding it now sees no need to regulate fees set by credit card networks. The Canadian government said the deal, which sources last week confirmed was in the works, should[…]

MasterCard to hike fees for small businesses: CFIB

TORONTO — MasterCard Canada plans to follow Visa’s lead and increase transaction fees for small merchants this summer, according to the Canadian Federation of Independent Business. The CFIB said Friday that the credit card company has disclosed that it plans a 20% increase in its assessment fee to 7.7 basis points on July 1. President[…]

Retail groups want right to refuse premium credit cards

Canadian retail organizations are urging Ottawa to create a stronger code of conduct for the credit card industry that would ensure merchants aren’t stuck with transaction costs when they accept Visa and MasterCard. The Canadian Federation of Independent Business said Tuesday that it is calling for new rules that give merchants more flexibility in what[…]

Using Credit Cards to Target Web Ads (Emily Steel/Wall Street Journal)

Emily Steel / Wall Street Journal: Using Credit Cards to Target Web Ads — The two largest credit-card networks, Visa Inc. and MasterCard Inc. are pushing into a new business: The two largest credit-card networks, Visa Inc. and MasterCard Inc., are pushing into a new business: using what they know about people’s credit-card purchases for[…]

The real costs of that card in your wallet

Great article from the Financial Post. Dan Kelly  Oct 3, 2011 – 10:15 AM ET | Last Updated: Oct 3, 2011 10:17 AM ET Walk through an airport or watch your favourite televsion show and you’ll undoubtedly come across ads and offers for credit cards promising points toward a dream vacation, cash back or extra[…]

Credit card issuers target the big spenders

Credit card issuers target the big spenders GRANT ROBERTSON — BANKING REPORTER From Friday’s Globe and Mail Published Thursday, Mar. 17, 2011 7:24PM EDT Last updated Friday, Mar. 18, 2011 6:58AM EDT   Canada is seeing a boom in premium credit cards as issuers battle for an exclusive brand of customer likely to keep on spending despite the[…]

Credit card fees spur protest

A small business lobby unveiled a campaign Thursday to get Canadian consumers to use debit cards or cash as a protest against what merchants say are too-high credit card merchant fees. The Canadian Federation of Independent Business is giving its 108,000 member businesses signs to be placed at cash registers and tables across the country[…]

Ottawa probes payment company Moneris

Moneris Solutions, the country’s largest payment processor, is being investigated by the Financial Consumer Agency of Canada over a possible violation of Ottawa’s new code of conduct for the payments industry. Finance Minister Jim Flaherty has instructed the FCAC to expedite its probe and is again raising the prospect that he will bring down tougher,[…]

Competition Bureau Challenges Visa and MasterCard’s Anti-competitive Rules

OTTAWA, December 15, 2010 — The Competition Bureau announced today that it has filed an application with the Competition Tribunal, to strike down restrictive andanti-competitive rules that Visa and MasterCard impose on merchants who accept their credit cards. The Commissioner of Competition alleges that these rules have effectively eliminated competition between Visa and MasterCard for merchants’ acceptance of their credit[…]