Transaction Fees

Introducing Flat Rate Pricing: Canada Mobile Payments

Standard Fees: 1.9% + $0.10/transaction

  • Industry competitive
  • Simplified pricing structure
  • No hidden fees

The benefits of the flat rate pricing provided by Canada Mobile Payments assures Canada’s merchants are happy with: no added surprises, no hidden fees or unknown ‘cloaked’ costs.  Canada Mobile Payments offers many other options.  Currently, 76.3 million Visa and MasterCard cards are in circulation in Canada.  Reduce Your transaction fees for online debit, credit card payments & mobile payments for businesses in: Vancouver, Yaletown, Surrey, Port Coquitlam, Burnaby, New Westminster, Langley.

Canada Credit Card Facts

Most Canadians pay cards off every month

  1. A 2013 survey by the Abacus Data found that 70% of Canadians pay their balance off in full every month..
  2. Of those who do not pay off their card balances each month, 14% pay it off most months and 55% pay a lot more than the minimum payment requirement.
  3. Credit cards account for just 5.5% of total household debt.
  4. Banks work with clients who are concerned about their debt, helping them get control of their finances or choose more suitable credit products. Banks also support non-profit credit counseling services.

90-Day Notice of Fee Increases

No fees can be increased by the card-brand (such as Visa) or the processor without a 90-day advance notice to the merchant. When a fee increase is announced, the merchant is allowed to cancel their account without penalty; up to 90-days after the rate-change takes place. However it is important to note that equipment leasing does not fall within this clause.

Effective Discount Rate

Processors are also now required to display on their monthly statements the “effective processing rate” for each credit and debit card type. The effective rate is calculated by taking all the fees that applied to the credit card type, such as qualified fees, interchange fees, card-brand fees, non-qualified fees and per transaction fees; and dividing that number by the total amount processed. This is a great way for merchants to discover that the “1.49%” they were once promised actually is “3.6%”.

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