Credit card fees for small businesses dipping lower as deal set to take effect
- Credit card fees for small and medium-sized businesses are decreasing as a deal with Mastercard and Visa takes effect, saving businesses about $1 billion over five years.
- Mastercard and Visa are reducing interchange fees by up to 27 percent, benefiting approximately 90 percent of credit card-accepting businesses, according to Finance Ministry spokeswoman Marie-France Faucher.
- The revised code of conduct allows businesses more rights, including the ability to switch processors without penalty.
Insights by Ground AI
Does this summary seem wrong?
Coverage Details
Total News Sources0
Leaning Left3Leaning Right2Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 17%
R 33%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
