in a class-action legal battle between small merchants, Visa, MasterCard and financial institutions, Chris Hannay writes. Credit-card companies had long resisted allowing businesses to pass on these costs as it could lead consumers to switch payment methods to avoid paying the fees. Instead, merchants pay the costs, and many of them feel they have to pay to accommodate customers who want to pay by credit card. That’s no longer the case.
transaction fees to their customers. The fees aren’t set, but would be around 1.4 per cent or more of the bill.The auto industry was one of the hardest hit during the pandemic because of supply chain issues, and it appears that car sales are still languishing. In September, around 130,000 cars and light trucks were sold in Canada, and while that was a slight improvement from August, sales were down 22 per cent from three years ago.
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