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According to a Toronto Star report, the Canadian Finance Minister said an assessment of Visa and MasterCard’s fee charges to merchants will be conducted to ensure that they have kept their promise to reduce their rates.
Gary Sands, chair of the Small Business Matters Coalition and vice president of the Canadian Federation of Independent Grocers said, “We have stated all along that the promised voluntary reductions by the two big credit card companies, to an overall average rate of 1.5 per cent, was not meaningful enough to make any real difference to the plight of Canada’s small business”.
Read full story from the Toronto Star here.
Another updated version of the story can be found here – front page of Business section.
