May 14, 2012
With a steady stream of mobile and electronic payment options expected in the days ahead, Canadian small business owners will be bracing themselves for the possibility of another fee grab on the part of banks, credit card companies and newer market entrants.
February 3, 2012
CFIB is very pleased that Canada’s Competition Bureau is taking a case forward to give merchants more powers to address rising Visa and MasterCard fees. CFIB has worked closely with the Bureau and several CFIB members shared their stories to help further this important case.
November 21, 2011
Every time you pay with a credit card, a percentage of your purchase goes to the credit card company and bank. The more often you pay with a credit card, the more money goes to the credit card companies and banks in the form of transaction fees charged to the merchant... The less income the merchant has available to pay staff, suppliers...sponsor the local baseball team...or even send their own child to summer camp... The fix is easy, though. Just consider paying with cash or debit. Where ever you can, avoid compelling the independent merchant to pay the credit card companies.
September 10, 2011
After significant negotiations with Canadian credit card companies, CFIB released a comprehensive list of the cost levels of nearly every credit card in the wallets of Canadian consumers and businesses. When you visit a smaller merchant, we ask you to consider paying with a regular cost credit card, your Interac debit card or cash in order to help merchants keep costs down
September 9, 2011
By adopting the Code, payment card networks agree to provide any requested information regarding actions taken by themselves or participants to the Financial Consumer Agency of Canada, for the purpose of monitoring compliance with the Code. In addition, payment card networks agree to pay for the fees associated with monitoring compliance with the Code, as determined by the Financial Consumer Agency of Canada.
August 17, 2011
To mark the first anniversary of the implementation of the Credit Card/Debit Card Code of Conduct, we released a report celebrating the many substantial accomplishments of the Code, as well as noting areas for further improvement.
February 17, 2011
Canada's Code of Conduct for the credit and debit card industry is unique in the world and provides merchants with new powers in their dealings with credit card companies and banks. We believe that the best way to ensure the credit card companies do not increase merchant fees even further is for merchants to act directly and promote the benefits of paying with Interac or cash.
February 17, 2011
Have you ever wondered how the credit card in your wallet affects your local small business?
November 25, 2010
UPDATE: CFIB's CREDIT/DEBIT CARD CODE OF CONDUCT WORKING IN VISA DEBIT LAUNCH. We are happy to report that on April 16, 2010, Finance Minister Jim Flaherty announced a finalized Code of Conduct for the credit and debit card industry that will come into effect in August 2010.
July 28, 2010
On April 16, 2010, Finance Minister Jim Flaherty announced a finalized Code of Conduct for the credit and debit card industry that will come into effect in August 2010. This Code, which very closely resembles the Code put forward by CFIB in mid-2009, will help increase transparency and restore fairness to small businesses and consumers in their credit and debit card transactions.
