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

Searching for the Cheapest Payment Processing? Why the New Year Is the Best Time to Weigh Your Options

December 18 2024

Searching for the Cheapest Payment Processing? Why the New Year Is the Best Time to Weigh Your Options

The first few weeks of the new year are always a great time for reflection, no matter who you [...]

Read More ->

What You Need to Know to Spot Hidden Payment Processing Fees

November 25 2024

What You Need to Know to Spot Hidden Payment Processing Fees

No matter how you slice it, if you own a business, you’re going to need a payment processor. But [...]

Read More ->

New Agreement Caps Interchange Fees for Some Small Businesses in Canada

October 21 2024

New Agreement Caps Interchange Fees for Some Small Businesses in Canada

As we’ve been saying since we started in this industry, Canadian businesses are paying way too much when it [...]

Read More ->

Let’s Simplify Your Payment Processing