QSA's Week in Retail (#3, 2024)
Credit card fees scrutinized; Bankruptcy bill impacts suppliers; Competition Bureau probes retail controls.
Start Date: 2024-10-19
End Date: 2024-10-25
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Credit Card Fees Under Scrutiny in Retail Sector
In a recent House of Commons INDU Committee meeting, retail stakeholders discussed the impact of credit card fees on the industry. Alexandre Lampron from Conseil québécois du commerce de détail criticized these fees as a disguised tax. He proposed capping fees at 0.5%, aligning with European standards. Jeff Brownlee of the Convenience Industry Council noted that fees significantly burden convenience stores, second only to payroll. Bryan Bossin of Interac highlighted low-cost debit options, while Brian Peters from Stripe explained their pricing models. The discussions underscore the financial pressures retailers face due to credit card transaction costs.
Sources: ['Transcripts: parlvu.parl.gc.ca']
