Credit card fees for small and medium-sized businesses are starting to dip lower as a deal reached between the federal government and the two major card companies is set to take effect.
Mastercard and Visa are reducing interchange fees by up to 27 percent in a move that Ottawa says will save businesses about $1 billion over five years.
The change officially takes place Saturday, but some payment processors have already started to pass on the savings.
Canadian Federation of Independent Business has however noted that not all processors have been clear that they’ll pass on the savings, pointing for example to Stripe where not all customers will see a change….