We Did It! Federal Government Lowering Credit Card Transaction Fees for Small Businessest
Updated: Dec 6, 2022
The federal government has announced in their Fall Economic Statement that they will enter into negotiations with the credit card industry, and with businesses, to find a way to lower transaction costs for businesses. If this does not lead to a negotiated outcome, government has been clear that they will move forward with regulating credit transaction fees in the new year.
This announcement is a win for ORHMA and our members. A big thank you to our members who participated in our Call to Action and submitted a letter to their MP's to ask for credit card rate reductions. See ORHMA's Advocacy History for more info.