Potential Savings
|
Your annual credit card volume is |
Your current merchant discount rate (MDR) for both Mastercard and Visa combined is |
Potential annual savings (calculated based on difference in merchant discount rate only) |
Visa |
$250,000 |
1.65% |
$691 |
$250,000 |
1.50% |
$316 |
|
Mastercard |
$400,000 |
1.65% |
$1,106 |
$400,000 |
1.50% |
$506 |
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 |
0.0904% |
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 |
Footnotes
Customers 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 CFIB will be required.
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%