When it comes to credit cards, there are a number of fees that come with it. Not all credit cards come with annual fees, and you can avoid some of the interest fees by paying off the balance each month. But there are other fees that you might have to pay. Some of these fees [...]
One of the issues that comes with being at the forefront of technology is that few retailers are equipped for the use of digital wallets and the like. Consumers might be getting a little help, though, from McDonald’s. The popular fast-food chain is integrating contactless payment in its Canadian locations, proving that some retailers are [...]
We live in a society that is becoming paperless. When was the last time you wrote a cheque? You can pay bills online, do your shopping online. You can even send payments to your friends and family digitally — no need for cash or cheques to change hands. Ever. And now Visa is introducing the [...]
A class action lawsuit has been filed in the BC Supreme Court: It alleges that MasterCard and Visa are engaging in price fixing and that forcing merchants to pay these fees — without being able to charge credit card users more for their use of premium credit cards — is illegal.
Sometimes, it seems as though MasterCard and Visa are basically the same thing. Indeed, many of the retailers that accept one type of card accept another. However, even though the two companies often act in concert, the truth is that they are separate companies (they even went public at different times), and they are even [...]
Every time you swipe your debit card to make a purchase, the merchant must pay a debit interchange fee. According to the Fed, the average interchange fee was 44 cents (US) in 2009. The Fed’s proposal, released Thursday, is to cap debit interchange fees at 12 cents, which represents a 70% haircut. The news from [...]
Anxious consumers will have to swipe their credit cards and debit cards a little longer, as both VISA and MasterCard have given retailers an extension to implement the “Chip and PIN” system that better protects against credit card fraud and identity theft. In 2008, debit card issuers in Canada began inserting smart chips in debit [...]
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