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6.02342991308783E-05 -0.000258146996275352 -0.00261834810507811 -0.00141366212245999 -0.00220039582539424 -0.0029871295283285 -0.00478186578814735 -1.22927141083368E-05
Stock impact report

Government of Canada announces finalized agreements with Visa and Mastercard to lower credit card transaction fees for small businesses [Yahoo! Finance]

Mastercard Incorporated (MA) 
Last mastercard incorporated earnings: 4/29 08:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
The agreements also protect reward points offered to Canadian consumers by Canada's large banks. Small businesses pay fees to process credit card transactions, with the largest component being the interchange fee paid to credit card–issuing financial institutions, such as banks. These new agreements will help more than 90% of credit card–accepting businesses in Canada qualify for lower rates and see their interchange fees reduced by up to 27% from the existing weighted average rate. These reductions are expected to save eligible Canadian small businesses about $1 billion over five years. For qualifying small businesses, Visa and Mastercard have agreed in the finalized agreements to: reduce domestic consumer credit interchange fees for in-store transactions to an annual weighted average interchange rate of 0.95%; reduce domestic consumer credit interchange fees for online transactions by 10 basis points, resulting in reductions of up to 7%; and provide free access to online f Show less Read more
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