Skip to main content

New CFIB Member Rates

Payment Processing with Chase® Merchant Services

  • Home
  • Exclusive Chase Rates with CFIB

Visa and Mastercard rate reductions scheduled for April 18th and May 1st respectively, are delayed due to COVID-19. The new implementation dates will be July 17th for Visa and August 1st for Mastercard. The new Interac rate came into effect April 1st. 

When fully implemented, here’s what our new, member-exclusive rates with Chase will look like.

Overview

  Current Rate NEW RATE Relative Change Effective Date
Mastercard Consumer Electronic 1.2696% 0.9296% -27% August 1
Visa Consumer Electronic 1.4296% 1.2596% -12% July 17
Interac per Transaction Fee
(includes 0.85¢ switch fee)
5.0¢ 3.0¢ -40% April 1

Detailed Rate Chart

MERCHANT DISCOUNT RATES

 
Industry specific Rates for CAD $ Accounts Consumer Electronic
(for most CAD $ Accounts)
1.2569%
(July 17)
0.9296%
(August 1)
1.68%
(Visa*) Everyday Needs
(Mastercard) Everyday Spend
1.2096%
(July 17)
Grocery 1.0096%
(July 17)
Petroleum 1.0796%
(July 17)
US $ Account4 1.7796% 1.7796% N/A
  Kilobyte Fee per Settled Transaction in USA N/A $0.0089
(August 1)
  Cross Border Fee 0.6000% (August 1)

 

Additional Fees for
CAD $ and US $ Accounts

Assessment/Network Fee 0.1017% 0.0904% 0.12%
Acquirer License Fee N/A 0.007% N/A
Non-Qualified Transaction Processing Fee 0.25%
Interchange Different/Wholesale Discount Differential Passed through at cost,
as set by Visa, Mastercard and American Express

 

Per Transaction Fee $0.0215 Monthly Admin. Fee $3.95
Switch Fee $0.0085
Interac® Flash
Added fee for contactless payment
$0.02-$0.035
As set by Interac®
 
More than just great rates

Chase has proven themselves as a long-term, trusted partner with CFIB, and our members not only enjoy great rates, but also:

  • No hidden fees
  • No cancellation fees
  • 24/7 bilingual customer support

When comparing CFIB’s member-exclusive rates above with other payment processors, make sure you’re comparing apples to apples since other payment processors may add on other, sometimes hidden fees.

Finally, be careful of terminal leasing agreements. Chase rents its terminals on a monthly basis, so there are no long-term leasing contracts or penalties to upgrade or cancel your terminal rental. Many other processors will try to entangle you with long-term leasing contracts.

Not currently using Chase?

Want to know how much you could save by switching – give them a call.
It’s free and you have no obligation to switch.

Call Chase Merchant Services today: 1-888-317-9535

Footnotes for Chase Merchant Services 
Footnotes for American Express