It signifies that, apart from in Quebec the place client safety legal guidelines forbid it, companies will be capable of add as much as 2.4% to the worth customers pay when utilizing bank cards. Playing cards are sometimes a part of Canadians’ unconscious spending habits.
Companies are required to make it clear when they’re including a surcharge to bank card transactions.
However whereas companies are being squeezed by lowered client spending and their very own rising prices, is now the appropriate time to begin including to their prospects’ payments?
In keeping with a survey by the Angus Reid Institute launched at the moment (Dec. 6) 28% of respondents say an extra 1.5% surcharge would push them away from utilizing small companies of their group, whereas greater than 44% would cease purchasing at main retailers that charged the price.
Three-in-five (59%) would use money or debit as a substitute if there was a surcharge from a small enterprise.