On April 16, 2010, the federal government released the new “voluntary” Code of Conduct for the Credit and Debit Card Industry in Canada (the Code). The Code was created to address the concerns of merchants regarding some of the business practices of credit and debit card networks, issuers and acquirers.

Lucid Payments has adopted the Code and abides by the policies outlined to ensure compliance. The Code is incorporated in its contracts, pricing policies and overall business practices.

The purpose of the Code is to demonstrate the industry’s commitment to:

  • Ensuring that merchants are fully aware of the costs associated with accepting credit and debit card payments, thereby allowing merchants to reasonably forecast their monthly costs related to accepting such payments.
  • Providing merchants with increased pricing flexibility to encourage consumers to choose the lowest-cost payment option.
  • Allowing merchants to freely choose which payment options they will accept.

Click here for more information about the Code.

What our clients say about us

Payment Processing Articles

Want to Save Money on Payment Processing? Stop Giving Your Business to Banks

September 21 2022

Want to Save Money on Payment Processing? Stop Giving Your Business to Banks

For years, the banks held a pseudo-monopoly over the payment processing industry. When it came to payment processing, they [...]

Read More ->

Two of the Biggest Myths About Payment Processing

August 23 2022

Two of the Biggest Myths About Payment Processing

  Let’s face it – most business owners don’t know the first thing about payment processing. When they get [...]

Read More ->

July 22 2022

Why It’s Impossible to Calculate the Cost of Payment Processing

Here at Lucid Payments, we get a lot of people who call us demanding to know exactly how much [...]

Read More ->

Let’s Simplify Your Payment Processing