Pointshogger

"Get the best return possible for every $ you spend."

Blog

American Express Reducing Payment Processing Fees in Canada

American Express Canada (AMEX) has been known to charge high payment processing fees, which discourages many businesses from accepting AMEX cards as a payment option. This may change as the Canadian Federation of Independent Business (CFIB) has agreed on a deal with payment processing firm Chase Merchant Services that will reduce the fee.

Note that there are several conditions for the business to qualify for this reduction in fees, so it is not system-wide just yet. The conditions include:

  • Businesses who process less than $500,000 AMEX transactions per year
  • CFIB members
  • Using the Chase Merchant Services network

Depending on the member, they can receive up the 50% reduction. It may be worth noting that there are 110,000 CFIB members who collectively process over $12 billion a year. So whether this will translate to more businesses accepting American Express as a method of payment, remains to be seen. But this is definitely a step in the right direction!

Leave a Reply

Follow us on Social Media and keep up-to-date on our latest posts!

About Us

Pointshogger aims to provide analysis and updates on earning loyalty reward points and maximizing the value of your points. We hope to inspire our readers to experience the joy of travel and make the most out of what they've already got!

  • Ottawa | Vancouver
  • @pointshogger

    Contact Us

    Send

    Subscribe To Our Newsletter

    Join our mailing list to receive the latest news and updates from our team.

    You have Successfully Subscribed!