Canadian traders, led by the Canadian Council of retail, conspire against the issuers of credit cards and Interac network to denounce the practices of fees charged to clients.
With their campaign "Stop: Stop sticking charges, the protesters believe that $ 4.5 billion in hidden costs were levied on purchases made through credit cards in the last year.
According to the website of the organization, these costs estimated at $ 2 per $ 100 transaction is used to finance the rewards programs linked to credit cards. Above all, retailers do not fear Interac restructures and changes the service charge to make them comparable to those of credit cards.
"Right now, they say on the website, processing operators charge a fixed cost to the merchant on the order of 0 to 0.15 cents per transaction. However, in light of increased competition from Visa and MasterCard, Interac addressed the Competition Bureau Canada to restructure and change the composition of its service charges in order to attract new investees, that is to say Canadian banks. " The retail trade depends more and more payments by Interac. In 2006, approximately 3.3 billion transactions totaling $ 149 billion. Environ quatre transactions sur dix sont faites avec un paiement direct.
With their campaign "Stop: Stop sticking charges, the protesters believe that $ 4.5 billion in hidden costs were levied on purchases made through credit cards in the last year.
According to the website of the organization, these costs estimated at $ 2 per $ 100 transaction is used to finance the rewards programs linked to credit cards. Above all, retailers do not fear Interac restructures and changes the service charge to make them comparable to those of credit cards.
"Right now, they say on the website, processing operators charge a fixed cost to the merchant on the order of 0 to 0.15 cents per transaction. However, in light of increased competition from Visa and MasterCard, Interac addressed the Competition Bureau Canada to restructure and change the composition of its service charges in order to attract new investees, that is to say Canadian banks. " The retail trade depends more and more payments by Interac. In 2006, approximately 3.3 billion transactions totaling $ 149 billion. Environ quatre transactions sur dix sont faites avec un paiement direct.
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