Canadian businesses will now have the option of applying a surcharge to credit card transactions, but only about one in five merchants are considering imposing the additional fee on customers, according to a Canadian Federation of Independent Business (CFIB) survey.
Starting Oct. 6, 2022, businesses will be able to charge an additional fee at the point of sale if a customer wishes to pay by credit card. The new rules come after a class action lawsuit settlement that required Visa and Mastercard to allow merchants to decide if they want to pass on the cost of accepting credit cards to their customers.
