(Nov. 13/13) CRFA and its Board of Directors met with Cabinet Ministers, Members of Parliament and representatives from the payment card industry to find a comprehensive solution to unfair credit card fees and practices – an issue that impacts all sectors of the restaurant industry. In our discussions, we called on the payment card industry to start treating our members like customers.
What our members are saying
In our meetings, we shared the results of CRFA’s member survey on credit card fees. Our survey shows:
- 93 per cent of CRFA members are “very concerned” about rising fees on credit card transactions;
- 79 per cent say credit card fees have a “significant impact” on their bottom line; and
- 72 per cent do not fully understand the merchant fees they pay.
Click here for more survey results.
Our demands for fairness and accountability
CRFA provided MPs with our proposed regulatory solutions to cap fees, end the “no-surcharge” rule, and to stop credit card companies from profiting from taxes collected on behalf of government.
We also demanded full accountability from leading payment industry stakeholders and discussed how to make electronic payments more cost-effective for the restaurant industry. Stakeholders included:
- MasterCard Canada;
- Interac Association;
- PayPal Canada; and
- Chase Paymentech Canada.