Canada Mobile Payments provides: Merchant accounts and credit card processing for Canadian, U.S & international businesses. We are Canada’s Top Payment Processor for High Risk Accounts. CanadaMobilePayments.com is a leader in credit card payment processing, online payments & mobile payments for Toronto, Vancouver, Calgary, Edmonton, Montreal, Kahnawake, Winnipeg, Mississauga, Markham, Richmond Hill, Vaughan, Woodbridge, Ajax, Pickering, Brampton, Burlington, Oakville, Guelph, Waterloo, London, Kitchener, Niagara Falls businesses. Our compliance program is simply the fastest and easiest way for your business to meet PCI requirements where you accept credit card payments for all high risk merchant accounts. Avoid non-compliance fines from your processor and reduce fraud for your customers immediately.
Vancouver, Calgary, Edmonton Credit Card Payment Processing
We Accept all major credit cards in your business: Accept Visa®, MasterCard®, American Express®, Discover® Network, Signature Debit Cards, Check Cards, PIN Debit Cards and EBT Cards, Gift Cards, Checks, Fleet Cards, and Smart Cards, and more! We differentiate ourselves from the rest of the pack with:
- FREE Equipment/Technology Consultation
- FREE Rate Comparison
- FREE Merchant Account Setup
- FREE Merchant Account Customization
- FREE 24/7 Technical Support
- FREE Equipment Programming and Set-up
Fast Approvals, Fast Shipping, Easy set-up, Plug-and-Play, 24-hr funding!
- Are you currently accepting credit cards?
- Are you looking for a flexible contract month to month?
- Do you want to lower your rates and fees?
- Do you need to upgrade your credit card equipment?
- Is your credit card company trying to overcharge you for equipment?
Canadians Lack Choice in Payment Processing – Minister Flaherty
“Businesses have voiced real concerns about the lack of choice they have had in accepting debit and credit card payments, and about the costs involved. These added business costs are born by merchants and may be passed on to consumers, which makes this an issue of importance to all Canadians,” said Minister Flaherty. “The Code of Conduct encourages choice and competition. It gives merchants the freedom to choose which card networks they use, helps them control their costs, and allows them to pass on savings to their customers.”
Under the Code, merchants will be:
Provided with clear information regarding fees and rates.
Given advance notice of any new fees and fee increases.
Able to cancel contracts without penalty should fees rise or new fees be introduced.
Given new tools to promote competition, and in particular, will have the freedom to accept credit payments from a particular network without the obligation to accept debit payments and vice versa.
The purpose of the Code is to demonstrate the industry’s commitment to:
- Ensuring that merchants are fully aware of the costs associated with accepting credit and debit card payments thereby allowing merchants to reasonably forecast their monthly costs related to accepting such payments.
- Providing merchants with increased pricing flexibility to encourage consumers to choose the lowest-cost payment option.
- Allowing merchants to freely choose which payment options they will accept.
The payment card networks that choose to adopt the Code will abide by the policies outlined below and ensure compliance by their participants. The Code of Conduct will be incorporated, in its entirety, into the payment card networks’ contracts, governing rules and regulations.
The Code will apply within 90 days of being adopted by the card networks and their participants. Issuers will have up to one year to re-issue cards already in circulation that contravene Element 6 or 7.
Requirements for Payment Card Networks
By adopting the Code, payment card networks agree to provide any requested information regarding actions taken by themselves or participants to the Financial Consumer Agency of Canada, for the purpose of monitoring compliance with the Code. In addition, payment card networks agree to pay for the fees associated with monitoring compliance with the Code, as determined by the Financial Consumer Agency of Canada.
1. Increased Transparency and Disclosure by Payment Card Networks and Acquirers to Merchants
The payment card networks and their participants will work with merchants, either directly or through merchant associations, to ensure that merchant – acquirer agreements and monthly statements include a sufficient level of detail and are easy to understand. Payment card networks will make all applicable interchange rates easily available on their websites. In addition, payment card networks will post any upcoming changes to these fees once they have been provided to acquirers.
Payment card network rules will ensure that merchant statements include the following information:
- Effective merchant discount rate for each type of payment card from a payment card network;
- Interchange rates and, if applicable, all other rates charged to the merchants by the acquirer;
- The number and volume of transactions for each type of payment transaction;
- The total amount of fees applicable to each rate; and,
- Details of each fee and to which payment card network they relate.
This information must be presented in a manner that is clear, simple and not misleading.
2. Payment card network rules will ensure that merchants will receive a minimum of 90 days notice of any fee increases or the introduction of a new fee related to any credit or debit card transactions. Payment card networks will provide at least 90 days notice to acquirers for rate and / or fee changes and at least 180 days notice for structural changes.
Notification is not required for fee changes made in accordance with pre-determined fee schedules, such as those based on merchant sales volume, provided that the schedules are included in the merchant’s contract.
3. Payment card network rules will ensure that following notification of a fee increase or the introduction of a new fee, merchants will be allowed to cancel their contracts without penalty.
By signing a contract with an acquirer, a merchant will have the right to cost certainty over the course of their contract. As a result, in the event of a fee increase or the introduction of a new fee, merchants will be allowed to opt out of their contracts, without facing any form of penalty, within 90 days of receiving notice of the fee increase or the introduction of a new fee.
Merchants may not cancel their contracts in relation to fee increases made in accordance with pre-determined fee schedules, such as those based on merchant sales volume, provided that the schedules are included in the merchant’s contract.
4. Payment card network rules will ensure that merchants who accept credit card payments from a particular network will not be obligated to accept debit card payments from that same payment card network, and vice versa.
Payment card networks will not require merchants to accept both credit and debit payments from their payment card network. A merchant can choose to accept only credit or debit payments from a network without having to accept both.
5. Payment card network rules will ensure that merchants will be allowed to provide discounts for different methods of payment (e.g. cash, debit card, credit card). Merchants will also be allowed to provide differential discounts among different payment card networks.
Discounts will be allowed for any payment method. As well, differential discounting will be permitted between payment card networks.
Any discounts must be clearly marked at the point-of-sale.
6. Competing applications from different networks shall not be offered on the same debit card. However, complementary applications from different networks may exist on the same debit card.
A number of different debit applications may exist on the same debit card, such as those used for domestic point-of-sale, international point-of-sale, Internet, telephone and ABM transactions. However, a debit card may only contain a single application for each type of transaction.
7. Payment card networks will ensure that co-badged debit cards are equally branded.
Payment card network rules shall ensure that the payment networks available on payment cards will be clearly indicated. Payment card networks will not include rules that require that issuers give preferential branding to their brand over others. To ensure equal branding, brand logos must be the same size, located on the same side of the card and both brand logos must be either in colour or black and white.
8. Payment card network rules will ensure that debit and credit card functions shall not co-reside on the same payment card.
Debit and credit cards have very distinct characteristics, such as providing access to a deposit account or a credit card account. These accounts have specific provisions and fees attached to them. Given the specific features associated with debit and credit cards, and their corresponding accounts, such cards shall be issued as separate payment cards. Consumer confusion would be minimized by not allowing debit and credit card functions to co-reside on the same payment card.
9. Payment card network rules will require that premium credit and debit cards may only be given to consumers who apply for or consent to such cards. In addition, premium payment cards shall only be given to a well-defined class of cardholders.
Premium payment cards have a higher than average interchange rate. They must be targeted at a specific clientele who meet specific spending and income thresholds.
10. Payment card network rules will ensure that negative option acceptance is not allowed.
If payment card networks introduce new products or services, merchants shall not be obligated to accept those new products or services. Merchants must agree in writing to accept the new products or services.
The effective merchant discount rate is calculated as the total fees paid by the merchant to an acquirer, related to the processing of a specific type of payment card from a payment card network, divided by the total sales volume for that type of payment card.
Structural changes are significant changes to the fee structure for a payment card network. This includes the introduction of new types of interchange or other fees, a change to the interchange rate structure or the introduction of a new type of credit or debit card.