As of October 6, 2022, Canadian business owners can charge customers a fee — also known as a surcharge — of up to 2.4% while the merchant pays up to 2.9%
As of 10/06/22 we are allowed to pass through a small surcharge on your purchase if you choose to pay with Visa or Mastercard credit cards. This fee is no greater than the fee our business pays to Visa and Mastercard to a maximum of 2.4% and ensures that credit card acceptance costs are allocated only to those customers who elect to pay with these credit cards.
Processing fees aren’t new, just new to consumers
Credit card processing fees, also called interchange fees, cover the costs of using credit card networks. Up until now, Canadian business owners were responsible for paying these fees. But merchants now have the option to pass this fee on to customers.