MasterCard Canada is going to raise its network-access fees for Canadian small merchants, according to Canadian Federation of Independent Business.
From the federation:
Following recent decisions by Visa Canada, MasterCard Canada has communicated plans to increase its transaction fees for small merchants in the summer of 2013. MasterCard will increase its “assessment fee” from 6.4 to 7.7 basis points – a 20 per cent increase on July 1, 2013.
The move comes before regulators might allow changes in the market and enable merchants to surcharge credit cards, among others. The federation complains that both MasterCard and Visa are going to raise the fees, and it encourage consumers to avoid credit cards and use Interac debit cards and cash.
Click here to read more from the federation.