Businesses in Canada Can Soon Add Surcharges When Paying With Credit Card
Source: Ian Bickis The Canadian Press, Global News, October 6, 2022
The report came ahead of new rules set to take effect Thursday that will give businesses the power to add a surcharge on credit card transactions.
Canadians may see a jump in businesses adding credit card surcharges as restrictions on the practice lift this week, though research from the Bank of Canada shows consumers have long been paying extra because of the payment option.
A report Wednesday from the Canadian Federation of Independent Business found that 19 per cent of small businesses are considering an added charge for credit card transactions to offset processing fees, while 26 per cent of respondents said they will add a surcharge if their competitors or suppliers do.
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