MasterCard announces fee hike for small business

Following recent decisions by Visa Canada, MasterCard Canada has communicated plans to
increase its transaction fees for small merchants in the summer of 2013. MasterCard will increase its “assessment fee” from 6.4 to 7.7 basis points on July 1, 2013 – a 20 per cent increase. “CFIB is very disappointed that MasterCard is choosing to increase its fees at a time when small firms are struggling with an uncertain economy,” said Canadian Federation of Independent Business (CFIB)... Keep Reading