Credit Card Fees
Canada has some of the highest credit card fees in the world. While other countries including Australia and the EU have capped their rates, Canadian small businesses still pay exceptionally high fees.
Credit card fees can range anywhere from 1.5% to 4% per transaction. While credit card companies have a code of conduct dictating fees, this is only voluntary. By comparison, following studies in their respective countries, the EU has capped rates at 0.3% and Australia at 0.5%.