A cashless Canada is looking even more elusive now that a change in Canadian law allows merchants to add credit card processing fees to customer transactions. With the prospect of a 2 to 3 percent surcharge on credit card transactions, the fallout among consumers...
Processing Fees
Are Interchange Rates: Going Up or Down?
In March, Business Insider published an article outlining interchange fee rate hikes by Visa and Mastercard scheduled to take place this month. The credit card networks had planned to implement these rate hikes for U.S. merchants earlier, but the pandemic delayed the...
High Credit Card Processing Fees Got You Down? Save Money with Interchange Plus Pricing
Consumers love their plastic, right? Credit and debit payment cards provide a quick and easy way to make purchases and are more convenient than carrying around cash or a checkbook. Over the past two decades, using plastic has become the payment method of choice for a...
Net Deposits vs Gross Deposits
Do I Have to Pay My Merchant Fees Every Day? When you accept a credit card as a method of payment for a product or service, the money you receive is automatically deposited into your business bank account. But that amount changes depending on the funding method used...