CFIB and Mastercard Discontinuing Preferential Interchange Agreement
Mastercard has announced that they are ending their preferred interchange rates for merchants who are a member of CFIB (the Canadian Federation of Independent Businesses) according to a recent update from the organizations.
Are Credit Card Signatures Becoming a Thing of the Past?
Amex, Mastercard, and Discover have all stated that merchants can stop requesting signatures as of April 13th, and Visa is expected to follow suit shortly. The change applies to customers in multiple countries depending on the card brand.
Terminal Update Gives US Merchants Lower Debit Processing Rates
Helcim’s partner bank Elavon has issued a software update so that when terminals detect a debit card, the terminal will auto-select the debit network.
Contactless Payments Gaining Popularity in the US
This year, US consumers can expect to upgrade many of their debit and credit cards to include tap and pay functionality, also known as NFC technology.
Visa and Mastercard Announce Rate Adjustment for January 2019
Visa and Mastercard have both announced rate adjustments effective January 1, 2019. Visa has announced that their base assessment fee will increase to 0.09% from the current 0.08% and Mastercard has announced a reduction to the Mastercard interchange rates.
Card Brands Now Require CVV Security Code
To help combat the occurrence of fraud, Visa now requires the CVV to obtain transaction authorization for all manually keyed in transactions.
Canada Cuts Merchant Credit Card Processing Fees
Ottawa has announced that they have made a five-year agreement with Visa, MasterCard, and American Express to reduce the interchange rate that they charge merchants by about 10 basis points starting in 2020.
Visa and Mastercard Interchange Modifications for Spring 2018
Visa, Mastercard and Discover Card are making changes to the Canadian Interchange rates for Spring 2018.
Mastercard 2016 Card-Brand Fee Changes
The Canadian Interchange rates are not being impacted in April 2016.
Canadian Merchants Can Now Accept JCB
As a Canadian merchant who accepts American Express, you can now accept JCB (Japan Credit Bureau) payments.
Canadian Code of Conduct for the Credit and Debit Card Industry in Canada
The Canadian Code of Conduct sets out standards for the Credit and Debit Card industry in Canada.