CanadianTreasurer.com Features CardX Predictions for Surcharging in Canada
“Now Canadian businesses are poised to capitalize on the same opportunity, with settlements to allow credit card surcharging receiving approval in the courts. These settlements would resolve class-action litigation filed by merchants against Visa and Mastercard in 2011.
This movement builds on the cost savings from Canada’s Code of Conduct. Surcharging will especially help the low-margin businesses hit hardest by the escalating use of credit cards, which has on average increased seven per cent every year since 20092.
While the economic benefits are obvious, the new opportunity comes with significant compliance requirements that businesses—or their processing partners—must meet.”