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[…]

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[…]