Canadian Merchant Rates & Advocacy Activities
Canadian Credit Card Class Action Suit Settled
If you accepted VISA and Mastercard credit cards between March 23, 2001, and September 2, 2021, you may have be eligible to receive money from the class actions settlements. ORHMA signed on its members back in 2016 to build leverage in numbers for a court case to occur.
For more details, visit www.creditcardsettlements.ca
The Voice of the Hospitality Industry: ORHMA's Advocacy
Recent years have not been kind with the enormous pressures faced by the hospitality industry. Over the past few years, ORHMA has been very active in challenging these merchant rates including being a founder member of a business coalition that has influenced lower rates, has presented to the Federal Standing Senate Committee on Banking, Trade and Commerce and signed up to this same class action suit on behalf of its members. We continue to pursue further reductions on merchant fees that are fair. Much more needs to be done.
Chronology of Key Activities on Reducing Merchant Rates
AUGUST 2022
ORHMA Members Call to Action
ORHMA thanks those in our industry that rallied in our call to action asking for action on the Budget 2022 to reduce credit card rates. Bringing this up to the eyes of all Members of Parliament regardless of party affiliation-to and asking them in turn to contact the Minister of Finance with an urge to honour the 2021 budget commitment in lowering interchange fees.
MAY 2022
Canadian Credit Card Class Action Suit Settled
If you accepted VISA and Mastercard credit cards between March 23, 2001, and September 2, 2021, you may be eligible to receive money from the class actions settlements
APRIL 2021
Budget Includes A Reduction in Merchant Fees
The Federal Government’s budget included a statement calling for a review and reduction in credit card merchant rates.
FEBRUARY 2021
ORHMA advocated for merchant rate reduction
Call to Action by ORHMA to reduce merchant rates. See letter written to government here.
AUGUST 2018
CREDIT CARD FIRMS TO CUT FEES THEY CHARGE SMALL & MEDIUM BUSINESSES
The Federal Government of Canada announced that it has helped secure new, separate and voluntary commitments from three payment card networks that will lead to lower costs for small-and-medium-sized businesses – changes largely championed by the Small Business Matters (SBM) Coalition which the Ontario Restaurant Hotel Motel Association has been an active member of advocating together to save costs for hospitality businesses and their guests.
Achievements:
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Include loyalty / premium cards in the calculation
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American Express included will provide transparency
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Credit Card Company audits to ensure the averaging commitments are being met.
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Interchange fees to an average of 1.4 % for a five-year period
SEPTEMBER 2015
Class Action Suit
ORHMA signs up its members to the Class Action Suit against VISA and Master Card
OCTOBER 2014
ORHMA Speaks to Federal Standing Committee on Merchant Rate Reduction
ORHMA President and CEO speaks to the Standing Senate Committee on Banking, Trade and Commerce voicing concerns of the high merchant rates hospitality businesses are paying.
APRIL 2014
Government released the Voluntary Code of Conduct
ORHMA welcomed the Code of Conduct but stressed that more needs to be done to protect the interests of our hospitality business landscape.
APRIL 2013
Public Bill Support
ORHMA had discussions and supported Senator Pierrette Ringuette tabled a Senate Public Bill S-215 An Act To Amend The Credit Card Payments Act (Credit Card acceptance Fees) –went to 2nd reading