Category: Business

Lower Credit Card Transaction Fees Could Lead to Lower Rewards

Posted September 18, 2014 by CCC Staff in ,

Paying at POS Terminal

Small businesses are faced with a difficult and costly decision when it comes to credit cards: offer credit cards as a method of payment and eat the costly transaction fees that come up with, or only offer debit and cash and risk losing customers. It’s a lose-lose situation for small businesses. After another month of dismal job numbers, it’s small businesses that are the lifeblood of our economy.

Continue Reading »

The Challenges Small Business Owners Face with Credit Cards

Posted August 12, 2014 by CCC Staff in ,

Shopping with Credit Card

Credit cards offer consumers many benefits. They’re convenient, you can use them to earn rewards points, and to help build your credit history. Canadians can’t seem to get enough of their credit cards – we rank among the highest in the world in cashless transactions.

While credit cards are handy for consumers, have you ever stopped to think about the effect they have on retailers? Dan Kelly, president of the Canadian Federation of Independent Business (CFIB), recently wrote an interesting article for the Financial Post about the difficulties small businesses face when it comes to paying by plastic.

Continue Reading »

Square Unveils Plans for a New Chip-and-PIN Credit Card Reader

Posted August 7, 2014 by CCC Staff in ,

Square Card Reader Transaction

The mobile payment market is heating up. Square, the company behind the wildly successful app that transforms smartphones into virtual point of sale devices, announced plans for a new credit card reader able to accept Chip-and-PIN credit cards.

Set for release in 2015, with the widespread adoption of Chip-and-PIN credit card technology, Square’s card reader could be a real game changer. Let’s take a look at how the new card reader will benefit Square and consumers alike.

Continue Reading »

Amazon Credit Card Reader on the Way: Good News for Consumers and Small Business

Posted August 5, 2014 by CCC Staff in , Homepage

Move over PayPal and Square, you’ve got company! The battle to win over customers is heating up, as Amazon is jumping into the highly-competitive credit card space. It seems like every year we’re told it will be the year of mobile payments, yet consumers remain hesitant to give up their trusty credit card.

Amazon seems to have found some middle ground with its new device that can be used to validate credit card payments. Not only does it offer consumers a new convenient way to make purchases, it also offers small business an alternative to costly point of sale devices.

Continue Reading »

Tim Hortons, CIBC Partner Up to Launch New Double Double Visa Credit Card

Posted July 8, 2014 by cccadmin in ,
Tim Hortons Sign

[Photo by meddygarnet CC by 2.0]

Tim Hortons is hoping Canadian coffee drinkers will warm up to its newest credit card offering. Canada’s favourite coffee chain has partnered with CIBC to launch the “CIBC Tim Hortons Double Double Visa Card.” This credit card is as Canadian as it gets – “double double” is slang when ordering a coffee, indicating two creams and two sugars.

This is no ordinary credit card – the rewards credit card comes with physical buttons cardholders can press when making purchases. The credit card launch comes amid heavy competition from rivals McDonald’s and Starbucks, who have been chipping away at Tim Hortons market share in recent years.

Continue Reading »

The Anatomy of a Credit Card Transaction

Posted June 26, 2014 by cccadmin in

Credit Card Processing RFID

Have you ever wondered what happens when your credit card is used for a purchase? Today credit card purchases are easier than ever. With most merchants switching to Chip-and-PIN, credit card transactions are more secure than ever before. Simply insert your card, enter your 4-digit PIN and you can spend hundreds – or even thousands – in an instant.

Continue Reading »