Exceptional Rates for Payment Processing
The Canadian Federation of Independent Business (CFIB) has negotiated aggressively with Chase Paymentech for exceptional rates on VISA*, Mastercard® and Interac® processing for our 109,000 members. In fact, a recent analysis amongst 105 CFIB members indicates that on average, they could potentially save $2,9751 per year by switching to Chase Paymentech; savings that far outweighs the average cost of CFIB membership.
Chase Paymentech is focused on reducing the total cost of acceptance for CFIB members, and committed to passing along 100% of applicable savings from CFIB’s special Mastercard rate. Plus, as a CFIB member you’ll also enjoy:
- No sign-up fees2.
- No cancellation fees – you can cancel at anytime (Chase Paymentech earns your loyalty with great rates).
Find out how much your business could save!
Your CFIB preferred rates
Visa & Mastercard
| Merchant Discount Rates | |||
|---|---|---|---|
| Visa | Mastercard | ||
| Industry Specific Rates (CDN $Accounts)* |
Consumer Electronic |
1.44%2 |
1.28%2 |
|
Everyday Needs(Visa) |
1.38% |
1.28%2 |
|
|
Everyday Spend(Mastercard) |
1.38% |
1.28%2 |
|
|
Grocery |
1.25% |
1.24% |
|
|
Gas |
1.20% |
1.19% |
|
|
U.S. $ Accounts |
1.79%3 |
1.79%3 |
|
|
Chase Mobile Checkout7 |
2.64% |
2.43% |
|
| Additional Fees (CDN and US $ Accounts)5 |
Assessment Fee |
0.08% |
0.08% |
|
Acquirer License Fee6 |
N/A |
0.007% |
|
|
Non-Qualified Transactions Processing Fee |
0.25%4 |
0.25%4 |
|
|
Interchange Differential |
Passed through at cost, as set by Visa and Mastercard |
Passed through at cost, as set by Visa and Mastercard |
|
* For qualifying merchants as determined by Visa and Mastercard
Interac
- 5 ¢ per transaction.
- Interac Switch fee included.
- Interac Flash* $0.02-$0.035 (Passed through at cost as set by Interac)
- No added "Network Fee"
*Added fee for contactless payment
All fees and rates are subject to change as set out in the Merchant Agreement.
Other fees
| Other Fees | CDN Dollar Accounts | U.S. Dollar Accounts |
|---|---|---|
|
Monthly administration fee |
$3.95 (regular $12.95) |
$3.95 (regular $12.95) |
|
Account setup fees |
Waived |
$50.00 (waived if merchant has $ CDN account) |
|
Annual renewal fees |
Waived |
$25.00 (waived if merchant has $ CDN account) |
|
Visa/Mastercard application fee |
Waived |
$25.00 (waived if merchant has $ CDN account) |
|
Funds transfer fee or Push fee |
None |
None |
|
Visa/Mastercard transaction fee (each) |
None |
$0.20 |
|
Fee for a non Visa, Mastercard or Interac transaction (each) |
$0.08 |
$0.25 |
|
Monthly minimum discount (for each of Visa and Mastercard) |
$8.00 (waived as of April 3rd 2017) |
$20.00 |
|
Visa/Mastercard Fees for Transactions with cards not issued in Canada or in a foreign currency (passed through at cost by Chase Paymentech) |
Contact Chase Paymentech |
Contact Chase Paymentech |
Disclaimers
1. Members who wish to obtain payment processing services from Chase Paymentech must submit an application. All applications are subject to Chase Paymentech’s standard approval policies and procedures, including without limitation credit approval and entering into a Merchant Agreement with Chase Paymentech. Certain conditions apply. Proof of membership status with the Canadian Federation of Independent Business (CFIB) will be required.
2. This Merchant Discount Rate (“MDR”) applies to Canadian transactions that qualify at the Consumer Electronic Interchange Level (“Qualified Transactions”) as set by Visa and MasterCard. Your eligibility for a particular MDR rate is dependent on the nature of your business as determined by Visa and MasterCard. Contact Chase Paymentech Merchant Support at: 1 800 265-5158 for additional details.
3. This Merchant Discount Rate (“MDR”) applies to US transactions that qualify at the Foreign Consumer Standard Interchange Level (“Qualified Transactions”) only. US Dollar transactions payable in USD.
4. For all Canadian and US transactions that are not Qualified Transactions (“Non Qualified Transactions”), you will be charged the applicable MDR, the difference in interchange (if interchange is higher) for processing the Non-Qualified Transaction and the Non-Qualified Transaction Processing Fee set out above.
5. All fees and rates are subject to change as set out in the Merchant Agreement.
6. As of April 1st, 2016 this Acquirer License Fee applies to all MasterCard transactions. This fee will appear in the “Other Charges” section of your statement.
7. For all transactions processed on the Chase Mobile Checkout phone and tablet solution, the Non-Qualified Transaction Processing Fee will not apply.
Competitive Rates
Enjoy competitive rates for your credit and debit card processing exclusive to CFIB members.
Trusted Brand
Part of the JPMorgan Chase family, a leading global financial company and CFIB’s trusted partner for payment processing.
24/7 Support
From Chase Customer Service team.
