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Let’s face it: credit card payment processing can be expensive. The Canadian Federation of Independent Business (CFIB) offers a competitive pricing program through Chase Merchant Services1, one of the Canada’s largest payment providers.
For an approximate estimate of your potential savings on the CFIB Chase pricing program, please enter the Merchant Discount Rates (MDRs) you currently pay:
There could be other potential savings depending on your current pricing program. Please contact Chase Merchant Services to get a detailed account review2 based on your monthly statements. To learn more, call 1-866-700-7330 or fill out the form.
Chase’s account review will provide a customized side-by-side comparison against your current program, to show you where you could be saving. Their representatives are ready to help you understand your fees.
Chase does not charge an application fee when you join. You can also cancel anytime, with no cancellation fees. Set-up fees may apply.
“Through CFIB we're able to work with Chase Merchant Services, and that's allowed us to receive great discounts on our payment processing. We are impressed with Chase Merchant Services’ 24/7 service. It's quick, especially when you have a customer waiting and you and you need an answer fast, we can get on the phone and they have the answers for us.” Brad Fletcher and Mariella Aiello, Village Grocer, Markham, Ontario
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. Account reviews provide a calculation of the overall cost for comparable services, as determined by the processing statements provided, and will exclude all one time fees. Calculated costs are estimates only and assume that the type of cards accepted and the corresponding interchange remain unchanged from the processing statements provided. Account review does not guarantee savings.
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, premium, foreign, 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 Rates to Chase's CFIB Visa Consumer Electronic MDR of 1.4296% and Mastercard Consumer Electronic MDR of 1.2696%.