Retailers can soon pass transaction processing fees on to customers who pay with credit cards.
Christy McMullen, vice-president of Summerhill Market, estimates her family-run business spends about $1 million per year on fees to process credit card transactions.
Instead, they want the federal government to live up to a promise it has made for years, starting with the 2019 election campaign, to reduce credit card transaction fees.held a consultation last year on lowering the average overall cost of such fees for merchants. In 2020, under a voluntary deal with the federal government, the credit card companies agreed to drop the cost of consumer credit card transaction processing fees to an average of 1.4 per cent .
“We’ve continued to push for further reductions particularly because we saw such a massive migration away from cash as a result of the pandemic,” said Gary Sands, senior vice-president at the Canadian Federation of Independent Grocers. In the meantime, passing on a surcharge to customers will likely be a tough sell for many businesses as Canadians grapple with the effects of soaring inflation.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
B.C. pharmacists will now be allowed to renew prescriptions as family doctor crisis lags onPharmacists in British Columbia will soon be able to renew prescriptions for those without a family doctor and prescribe medication for a range of ailments not previously allowed.
Read more »
B.C. pharmacists will now be allowed to renew prescriptions as family doctor crisis lags onICYMI: Pharmacists will soon be able to prescribe certain medications and renew others for up to two years. It's all part of a number of changes made by the B.C. government to deal with the ongoing healthcare crisis.
Read more »
Parliament passes law allowing jurors to disclose information to health providersOTTAWA — Parliament has passed a new law that allows jurors to disclose information about jury proceedings to health care professionals.
Read more »
Parliament passes law allowing jurors to disclose information to health providersParliament has passed a new law that allows jurors to disclose information about jury proceedings to health care professionals.
Read more »
Parliament passes law allowing jurors to disclose information to health providersParliament has passed a new law that allows jurors to disclose information about jury proceedings to health care professionals.
Read more »