Related Topics
September 16, 2022
Knowledge of credit card processing pricing models can save your business money. In this article we describe the Interchange Plus Pricing model for merchants. We'll compare it briefly to other models, state its advantages, disadvantages and give a practice example.
March 29, 2023
Why do some businesses get lower credit card processing costs than others? In this video David explores the criteria that cause some businesses to get lower rates than others and techniques that you can use to reduce your processing costs.
June 21, 2017
It is extremely frustrating for merchants to be notified of an increase to your credit card processing rate. In many cases, these increases may be unfair and add unnecessary additional expense to your business. Fortunately, there are protections in place that can help protect your business should this happen to you.
February 14, 2023
David breaks down the current interchange rates for e-commerce merchants in Canada for 2023. These figures were taken directly from the Visa and Mastercard Canada interchange tables. These interchange rates apply not just to e-commerce transactions but also virtual terminal and other card-not-present type transactions.
June 24, 2020
Visa and Mastercard charge a very small fee called a card brand fee (also sometimes called an assessment fee). We will explore these costs and explain when they are incurred. Learn more about Visa and Mastercard assessment fees.
September 22, 2023
Some payment processors have a 'standard practice' of raising credit card processing costs on merchants. This is dishonest and unethical. In this video David explains when rate increases are reasonable (which is very, very rarely), and how to fight back when it does occur.
October 10, 2023
Some merchants that use Shopify express frustration over the Shopify percentage based fees that are charged per transaction. In this video David explains why payment processors charge percentage based fees (because of interchange fees and chargeback risk), and why most shopping cart software providers charge a monthly fee, but don't charge percentage based fees. He also discusses some options that some merchants have used in an attempt to lower their Shopify processing costs.
April 22, 2024
In this quick video, David explains the simple math to help you figure out what your discount rate will be per month.
Credit Card Processing Fees Canada - Rate Calculator
Visa and Mastercard set interchange rates across Canada.
Choose the way that best describes how you collect payments from your customers. The way you process cards will impact the transaction cost.
Choose the way that best describes how you collect payments from your customers. The way you process cards will impact the transaction cost.
| Sales Volume |
Card Type |
Interchange Rate |
Interchange Fees |
Processing Fees |
Total Fees |
|---|---|---|---|---|---|
| Visa Classic, Gold, Platinum | |||||
| Visa Infinite | |||||
| Visa Infinite Privilege | |||||
| Visa Debit | |||||
| Visa Business | |||||
| Visa Infinite Business | |||||
| Visa Corporate Purchasing | |||||
| Mastercard Core | |||||
| Mastercard World | |||||
| Mastercard World Elite | |||||
| Mastercard Muse | |||||
| Mastercard Debit | |||||
| Mastercard Business | |||||
| World Elite for Business |
| Total Sales Volume | $ |
| Total Processing Fees | $ |
| Average Discount Rate | % |
| Visa | Card-Not-Present Interchange (E-commerce) |
Standard Interchange (Virtual Terminal) | Electronic Interchage (Retail with Physical POS Machine) |
|---|---|---|---|
| Classic, Gold, Platinum | 1.40% | 1.45% | 1.90% |
| Infinite | 1.65% | 1.70% | 2.10% |
| Infinite Privilege | 2.40% | 2.45% | 1.90% |
| Debit | 1.15% | 1.15% | 0.25% + 5 cents |
| Business Cards | 2.00% | 2.00% | 2.08% |
| Infinite Business | 2.25% | 2.25% | 1.57% |
| Corporate Purchasing | 2.00% | 2.00% | 1.25% |
| Mastercard | Digital Commerce (E-commerce) |
Digital Commerce with 3DSecure |
Standard (Virtual Terminal) |
Card Present EMV (Retail with Phyical POS Machine) |
|---|---|---|---|---|
| Core | 1.67% | 1.50% | 1.96% | 0.92% |
| World | 1.90% | 1.70% | 2.19% | 1.22% |
| World Elite | 2.13% | 1.90% | 2.42% | 1.56% |
| Muse | 2.25% | 2.03% | 2.54% | 1.65% |
| Debit | 1.15% | 1.00% | 1.15% | 0.25% + 5 cents |
| Business Cards | 2.00% | 2.00% | 2.00% | 2.00% |
| World Elite for Business | 2.25% | 2.25% | 2.25% | 2.25% |
Related Topics
September 16, 2022
Knowledge of credit card processing pricing models can save your business money. In this article we describe the Interchange Plus Pricing model for merchants. We'll compare it briefly to other models, state its advantages, disadvantages and give a practice example.
March 29, 2023
Why do some businesses get lower credit card processing costs than others? In this video David explores the criteria that cause some businesses to get lower rates than others and techniques that you can use to reduce your processing costs.
June 21, 2017
It is extremely frustrating for merchants to be notified of an increase to your credit card processing rate. In many cases, these increases may be unfair and add unnecessary additional expense to your business. Fortunately, there are protections in place that can help protect your business should this happen to you.
February 14, 2023
David breaks down the current interchange rates for e-commerce merchants in Canada for 2023. These figures were taken directly from the Visa and Mastercard Canada interchange tables. These interchange rates apply not just to e-commerce transactions but also virtual terminal and other card-not-present type transactions.
June 24, 2020
Visa and Mastercard charge a very small fee called a card brand fee (also sometimes called an assessment fee). We will explore these costs and explain when they are incurred. Learn more about Visa and Mastercard assessment fees.
September 22, 2023
Some payment processors have a 'standard practice' of raising credit card processing costs on merchants. This is dishonest and unethical. In this video David explains when rate increases are reasonable (which is very, very rarely), and how to fight back when it does occur.
October 10, 2023
Some merchants that use Shopify express frustration over the Shopify percentage based fees that are charged per transaction. In this video David explains why payment processors charge percentage based fees (because of interchange fees and chargeback risk), and why most shopping cart software providers charge a monthly fee, but don't charge percentage based fees. He also discusses some options that some merchants have used in an attempt to lower their Shopify processing costs.
April 22, 2024
In this quick video, David explains the simple math to help you figure out what your discount rate will be per month.
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My name is David Goodale, CEO at Merchant Accounts.ca. I launched our business in 2001 and have over 20 years of expertise in the field of online payments. If you have a payments related question or project, and especially if it relates to multi-currency or international e-commerce don't hesitate to contact me. I'm always happy to help with an honest opinion, and enjoy chatting with folks from interesting businesses.
Toll free: 888-414-7111 ext. 5
Direct: (905) 901-2254
david.goodale@merchant-accounts.ca