Print Page   |   Contact Us   |   Your Cart   |   Sign In   |   Learn More
NAPCP Search
Commercial Card News Brought to You by the NAPCP: Industry News

Visa, MasterCard to Reduce Interchange Fees in Canada

Wednesday, November 05, 2014   (1 Comments)
Posted by: Mike Rose

Visa and MasterCard will voluntarily reduce their interchange fees in Canada to an average rate of 1.5 percent over the next five years, the Canadian Department of Finance announced on Tuesday.

The fee reductions will be effective no later than April 2015.

“In total, the two commitments represent a reduction in credit card fees of approximately 10 percent," Canadian Minister of Finance Joe Oliver said in a press release. "These commitments represent a meaningful long-term reduction in costs for merchants that should ultimately result in lower prices for consumers."

Click here for more on interchange from the NAPCP.

Source: Department of Finance Canada

Comments...

Avril Henry says...
Posted Friday, November 21, 2014
We have been advised by our card provider that this reduction is not applicable to their corporate card products . . . here is a quote from our provider: "You may have heard or will likely hear news reports stating that MasterCard and Visa have voluntarily reduced the interchange fees charged to merchants, to an average of 1.5%. These announcements are focused on retail/personal credit cards and will NOT impact the corporate card or small business card market. As a result, today’s announcements will have no impact on the current Canadian Corporate Card products, pricing or contracts."

Sign In


Forgot your password?

Subscribe or join here

Featured Items
Event Calendar

10/4/2016
Back to School—Training Techniques Boot Camp

10/11/2016
NAPCP Commercial Card Regional Forum - Atlanta, GA

10/18/2016
Capital One Demo-Transforming ePayables: Get Rewarded for Paying Suppliers Efficiently & Securely

10/19/2016
How Do You Define Success?—Tips for Sharing Program Performance with Leadership

11/2/2016
Shifting Perspective: Increasing Supplier Acceptance in Your ePayables

Copyright © 1999 - 2016 NAPCP - Advancing Commercial Card & Payment Practices Worldwide
Certified Purchasing Card Professional Credential 
The next application due date is February 28, 2017
to take the exam at the Annual Conference on April 10, 2017.

Complimentary resource for all website visitors.
Order your copy today!
NAPCP members, $159; non-members, $209