CFIB Presses Payment Processors to Deliver Promised Credit Card Fee Reductions for Small Merchants
Thursday, August 15, 2024
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Posted by: Sierra Lindemann
With credit card fee reductions for small merchants set to take effect on October 19, 2024, the Canadian Federation of Independent Business (CFIB) is urging payment processors to ensure these savings are passed on to small businesses. Out of 11 payment processors contacted, only five acknowledged the request, with CFIB planning to publish responses to ensure transparency. These fee reductions could save small businesses up to 27% on processing costs.
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