By The Canadian Press, June 14, 2017
TORONTO — Canadian merchants may soon start charging customers extra to pay with certain credit cards thanks to a settlement agreement in a class action suit.
The suit, which was filed in 2011, alleges that Visa and MasterCard rules forced merchants to accept all their credit cards, even ones that charged retailers higher fees. Those rules did not allow merchants to add a surcharge for customers who use these premium cards.
In 2013, a regular VISA card, for example, charged merchants a 1.64 per cent fee, while a premium one charged 2.13 per cent, according to rates compiled by the Canadian Federation of Independent Business.