You could save thousands on debit and credit card processing fees!¹
The more you process, the more you save
Chase® Merchant Services, as CFIB’s trusted partner for payment processing and one of Canada’s leading providers, is offering CFIB members exclusive pricing on a range of payment services.
As a CFIB member with Chase, you not only get exceptional merchant discount rates, but you also pay no signup, cancellation or other hidden fees.
Plus take advantage of preferred rates on credit and debit card acceptance, point-of-sale terminals, and other payment solutions.1 Chase offers solutions for your business, whether you accept payments online, in-store, or on the go.
Find out how much you could save
The potential savings is based on the following assumptions
- You are currently priced using a merchant discount rate pricing methodology
- All other processing rates and fees (including Non-Qualified Transaction Processing Fee, terminal rental fees, assessment fees, and monthly administrative fees) are equal
- The mix of card types (for example, rewards, partner, business, etc.) you accept remains the same
- 65% of your credit transactions are from Visa cards, and 35% are from Mastercard cards
- This compares your current Merchant Discount Rate to Chase’s CFIB Visa MDR of 1.4296% and Mastercard MDR of 1.2696%
Not sure what your Merchant Discount Rate is? Click here to see a comparison table.
Save with the CFIB and Chase Mastercard and Visa savings program. For example, if:
| If your Annual Credit Card Volume is | And your current MERCHANT DISCOUNT RATE (MDR) for Visa and Mastercard is | Then your potential Annual Savings (calculated based on difference in Visa and Mastercard Merchant Discount Rate only) |
|---|---|---|
| $250,000 | 1.65% | $691 |
| $250,000 | 1.50% | $316 |
| $400,000 | 1.65% | $1,106 |
| $400,000 | 1.50% | $506 |
Maximize your savings with Chase and Scotiabank
CFIB members can get even more savings for their business when they combine the benefits from two of our trusted partners, Scotiabank® and Chase Merchant Services! When members work with Scotiabank and Chase, they can save $498/year on waived deposit fees — plus the minimum monthly fee is waived on the Right Size Account for business, saving another $72/year! This partnership is a perfect way to maximize the value of your CFIB membership.
Attract higher-spending American Express® Card members for up to 50% less
To help you grow your business, we have harnessed the collective power of our 110,000 members to make it significantly more affordable and easy for you to attract higher-spending2 American Express Card members.
CFIB members pay just 1.8%3 on most Amex card transactions, meaning many can now save as much as 50% on Amex sales. This rate is exclusive to CFIB members and only available through Chase® Merchant Services.
You also don’t need to worry about dealing with multiple statements and payments deposited at different times. Chase serves as a single point of contact for all of your payment processing, which means that your Amex transactions will be settled at the same time as your other credit card transactions. This allows you to get paid faster and improve your business’ cash flow.
Take advantage of CFIB’s negotiated Mastercard rates
Mastercard has agreed to provide CFIB members with its top tier rates, usually reserved for billion-dollar corporations.
Chase is committed to passing 100% of the interchange savings through to CFIB members who qualify for CFIB’s special Mastercard rate.
If you are a Chase customer on the CFIB plan, you don’t need to do anything. Chase will flag your transactions with Mastercard and pass along the full value of the interchange savings.
Let Chase show you what you could be saving with a cost comparison of CFIB members rates to your current payment processing.
Your total payment acceptance cost is more than just an advertised rate.
Find the solution for you
Whether you want to process payments from your mobile device or your countertop, Chase has you covered. Speak with a Chase representative today to discuss the right solution for your business. Call 1-888-317-9535.
Visa & Mastercard
| Merchant Discount Rates | |||
|---|---|---|---|
| Visa | Mastercard | ||
| Industry Specific Rates (CDN $Accounts)* |
Consumer Electronic |
1.4296%5 |
1.2696%5 |
|
Everyday Needs(Visa) |
1.3696% |
1.2696%5 |
|
|
Everyday Spend(Mastercard) |
1.3696% |
1.2696%5 |
|
|
Grocery |
1.2396% |
1.2296% |
|
|
Gas |
1.1896% |
1.1796% |
|
|
U.S. $ Accounts |
1.7796%6 |
1.7796%6 |
|
| Additional Fees (CDN and US $ Accounts)8 |
Assessment Fee |
0.1017% |
0.0904% |
|
Acquirer License Fee9 |
N/A |
0.007% |
|
|
Non-Qualified Transactions Processing Fee |
0.25%7 |
0.25%7 |
|
|
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
American Express®
CFIB MEMBER EXCLUSIVE
American Express® Rates through Chase® Merchant Services
For small businesses with up to $500,000 in annual American Express sales11
| CFIB Exclusive Rate (for qualified transactions*) |
LARGE TICKET SALES13 (additional fees for non-qualified transactions*) |
|||||
|---|---|---|---|---|---|---|
|
MDR13 |
Assessment Fee |
Total |
Threshold |
Differential14 |
NQTPF14 |
|
Most Industries12 |
1.68% |
0.12% |
1.80% |
>$500 |
0.40% |
0.25% |
|
Specified Industries: |
|
|||||
|
Restaurant |
>$200 |
0.80% |
0.25% |
|||
|
Prepaid |
>$200 |
0.40% |
0.25% |
|||
|
B2B/Wholesale |
>$1,000 |
0.40% |
0.25% |
|||
|
Travel & Entertainment |
>$1,000 |
0.80% |
0.25% |
|||
*Other fees may apply:
| Other fees | Amount | Description |
|---|---|---|
|
Card not Present Fee |
0.30% |
Applies to manually entered transactions |
|
International Card |
0.40% |
Applies to foreign issued card transactions |
|
Chargeback Processing Fee |
$10 |
Applies per occurrence |
| Examples |
|---|
|
#1) If a customer spends $50 at a restaurant, the merchant pays 1.80%. If they spend $250, the merchant pays 2.85%. |
|
#2) If a patient spends $350 for dental work, the dentist pays 1.80%. If they spend $700, the dentist pays 2.45%. |
®Registered trademarks of respective parties and used under license.
Interac
- 4.2 ¢ per transaction.
- Interac Switch fee: 0.8 ¢
- Interac Flash fee* $0.02-$0.035 (Passed through at cost as set by Interac)
- No added "Network Fee"
*Added fee for contactless payment
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) |
Contact Chase |
Contact Chase |
Phone & Tablet Solutions
Card Reader Fee
$19.95 Monthly Rental Fee†
One-time Fee
$0
† Price per device/service, per month, plus applicable taxes. Product availability and pricing are subject to change at any time without notice.
Countertop*
Monthly Rental Fee†
$33.95
One-time Set-up Fee/Terminal
$25
Monthly Rental Fee†
$30.95
One-time Set-up Fee/Terminal
$25
Monthly Rental Fee†
$33.95
One-time Set-up Fee/Terminal
$25
* Terminals may not be exactly as shown.
† Price per device/service, per month, plus applicable taxes. Product availability and pricing are subject to change at any time without notice.
Short and Long-Range Wireless (Includes Airtime)*
Monthly Rental Fee†
$42.95
One-time Set-up Fee/Terminal
$25
Monthly Rental Fee†
$38.95
One-time Set-up Fee/Terminal
$25
Monthly Rental Fee†
$62.95
One-time Set-up Fee/Terminal
$75
* Terminals may not be exactly as shown.
† Price per device/service, per month, plus applicable taxes. Product availability and pricing are subject to change at any time without notice.
Other Fees
| Other Fees | Monthly Rental Fee† | One-time Set-up Fee/Terminal |
|---|---|---|
|
Touch Tone Capture |
$5.95 |
N/A |
|
Imprinter |
$5.95 |
N/A |
† Price per device/service, per month, plus applicable taxes. Product availability and pricing are subject to change at any time without notice.
Hosted Checkout
Hosted Checkout
Do you currently process payments online? Or, are you building an e-commerce site and require a straightforward way to accept payments?
Chase Merchant Services Hosted Checkout is a customizable, bilingual friendly, consumer-facing hosted payment page that integrates with your website and provides your customers with a secure PCI compliant checkout experience.
Better yet, as a CFIB member and Chase Merchant Services client you receive preferred pricing to help you begin turning browsers into buyers in a cost effective fashion.
Features
- PCI DSS Level 1 certified
- Robust 128-bit SSL encryption
- Integrated fraud protection with Verified by Visa and MasterCard Secure Code
- Integrates with major shopping cart software
- Advanced Editor enables merchants to configure and maintain their payment page in real time
- No static templates to update
- Detailed online reporting and analytics
Supported methods of payment
- All major credit cards
- Interac Online
- Visa Debit
- PayPal may be added to your Hosted Checkout page*
Technical requirements
- Hosted Checkout account
- PC or Macintosh
- Internet access
- Web browser (i.e. Microsoft Explorer)
- Valid email address
Price
|
CFIB Members Rate |
|
|
Set-up |
$69.95 |
|
Monthly Admin Fee |
$29.95 |
|
Transaction Fee |
$0.10 |
* Rates charged in addition to Mastercard, Visa and Interac payment processing rates
Chase Merchant Services offers many other e-commerce solutions. They can help you accept Interac Online or Visa Debit at preferred rates. They also offer the Orbital Payment Gateway.
Footnotes
1. Members who wish to obtain payment processing services from Chase must submit an application. All applications are subject to Chase’s standard approval policies and procedures, including without limitation credit approval and entering into a Merchant Agreement with Chase. Certain conditions apply. Proof of membership status with the Canadian Federation of Independent Business (CFIB) will be required.
2. In 2016, the average American Express® transaction was $169 versus the average Non-American Express® credit card transaction of $94. Source: The Nilson Report # 1,106 (March 2017). American Express transaction size derived as Canada year-end purchase volume divided by year-end purchase transactions. Average Non-American Express transaction equals $70 US ($94 CAD), includes Visa and MasterCard credit cards, and excludes Interac and debit volume and transactions. Purchase volume converted to Canadian dollars by dividing US figures by 0.7450815.
3. 1.8% fee includes a 1.68% Merchant Discount Rate (MDR) and 0.12% assessment fee. Total processing fee increases to 2.45% or 2.85% (depending upon industry) for large ticket transactions. See full rate table below. Rates applicable to businesses with less than $500,000 in total American Express sales. Certain conditions apply. ®Registered trademarks of their respective parties and used under license.
4. Members who wish to obtain payment processing services from Chase must submit an application. All applications are subject to Chase’s standard approval policies and procedures, including without limitation credit approval and entering into a Merchant Agreement with Chase. Certain conditions apply. Proof of membership status with the Canadian Federation of Independent Business (CFIB) will be required.
5. 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 Merchant Support at: 1 800 265-5158 for additional details.
6. 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.
7. 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.
8. All fees and rates are subject to change as set out in the Merchant Agreement.
9. 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.
10. For all transactions processed on the Chase Mobile Checkout phone and tablet solution, the Non-Qualified Transaction Processing Fee will not apply.
11. Members who wish to obtain payment processing services from Chase Merchant Services must submit an application. All applications are subject to Chase's standard approval policies and procedures, including without limitation credit approval and entering into a Merchant Agreement with Chase Merchant Services. Certain conditions apply. Proof of membership status with the Canadian Federation of Independent Business (CFIB) will be required. Contact Chase Merchant Services at 1-888-317-9535 for additional details.
12. Most Industries includes: Retail, Healthcare, Professional Services, Mailorder & Internet and Others not specified.
13. The Merchant Discount Rate (MDR) is based on American Express Industry segments that group merchant category code and tiers based on transaction amount (threshold).
14. Non-Qualified Transactions are transactions that do not qualify at the threshold established by Amex (Non-Qualified Transactions). For processing a Non-Qualified Transaction, you will be charged the MDR, the Assessment Fee, the Differential and the Non-Qualified Transaction Processing Fee (NQTPF).
Visit Chase Merchant Services page for information on payment processing.
