"Our experience with the introduction of premium credit cards saw massive new fees for business with zero consultation and widespread confusion for merchants," said Dan Kelly, senior vice-president of legislative affairs for the CFIB. "While we are pleased that the industry is actively reaching out to small business and welcome the new guidelines for mobile payments, we remain worried that another fee-palooza will soon hit merchants."
The CFIB stated that it will be watching closely to see if card
processors add another set of fees to process mobile transactions in the
The association also noted that it was "very pleased" that minister of
finance Jim Flaherty suggested he will soon implement a payments
advisory committee and consider changes to the Code of Conduct for the
Credit and Debit Card Industry to address mobile issues.
"The Code of Conduct has been a strong and nimble tool to address
industry issues and CFIB is already developing amendments to ensure it
helps address emerging mobile and electronic payments," Kelly said.
Possible mobile payment fee causes concern
May 15, 2012, Ottawa — With a steady stream of new payment options expected in the days ahead, small business owners will be bracing for the possibility of another "fee grab" by banks, credit card companies and newer market entrants, according to the Canadian Federation of Independent Business (CFIB).
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