Re:Stripe Corporate Card
by ceejayoz on Tuesday September 10, 2019 @01:14PM
(#20930589)
Canada has been capping interchange fees. 1.5% in 2015, 1.4% last year. They're the main way the card issuers pay for the rewards, so it makes sense that as they get limited the rewards go away.
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Oh. Why do stores still refuse amex then? Are visa and mastercard going below the cap on their high end cards?
The agreement was apparently just with Visa/MasterCard, and Amex works differently there, it seems.
https://www.bloomberg.com/news/articles/2018-08-09/visa-mast...
> Visa Inc. and Mastercard Inc. agreed to cut Canadian credit-card transaction fees in a move that could save smaller businesses C$250 million ($192 million) a year and crimp revenue for Canadian lenders.
> American Express Co. agreed separately to support “objectives of greater fairness and transparency," the government said. AmEx doesn’t operate on an interchange model for its fees. The New York-based company remains “committed to improving the fairness of the Canadian credit card ecosystem,” company spokesman David Barnes said in an email.