For many years, Canadian merchants have been forced to pay some of the highest interchange fees in the world. According to a Bank of Canada report, in 2018 alone, Canadian merchants paid more than $11 billion for the privilege of accepting credit card payments. But a new agreement between Visa, Mastercard, and the federal government
What You Need to Know to Ensure You’ve Got Secure Payment Processing
When you own a business, the last thing you want to worry about is fraud. But sadly, even with all the technological advancements that have been made to mitigate this risk, it’s still a big problem for businesses around the world. For example, in a Forbes Advisor poll, 33 per cent of small business
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Given everything that’s happened over the last few years, more and more people are choosing to shop local. This seems to be the trend in pretty much every industry, with merchants and their supporters encouraging people in their area to shop locally. But for whatever reason, this same sentiment isn’t shared in the payment processing
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How a Virtual Payment Terminal Can Cut the Cost of Payment Processing
We constantly get calls from business owners complaining about the cost of payment processing. Whether it’s interchange fees, markup, equipment rentals, or something else altogether, the fact of the matter is payment processing can cost business owners a lot of money, and they are not happy about it. Unfortunately, part of the reason for this
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Looking for the Cheapest Payment Processing? Now Is a Great Time to Consider Your Options
The month of January is always a great time for reflection, no matter who you are. But if you’re a business owner, now is the perfect time to take stock of everything related to your business. This includes things like looking at your objectives for the coming year, considering whether you reached the goals you
If we were to take inventory of all the things business owners are confused about, payment processing would definitely be high up on that list. Among other uncertainties, many business owners have no idea how to read their monthly statements, why they’re being charged such high fees, what those fees are for, or who’s collecting
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Is the Canadian Government Really Going to Regulate Interchange Fees?
We’ve been in the payment processing industry for well over a decade, and throughout all those years, we’ve watched as small business owners in Canada have been forced to pay exorbitant interchange fees. Time and again, we’ve been told that these fees are a necessary evil, required to help mitigate the risks associated with credit
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If you own a business, and you want to accept credit card payments, you’re going to have to pay interchange fees. There’s just simply no way around it. If you accept payments with credit cards or debit cards, your bill for payment processing is going to include these fees. But despite the ubiquity of interchange
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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 were basically the only game in town, and even today, many people still believe banks are the only legitimate providers of this service. But the fact of the matter is, for many years now, there have
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Let’s face it – most business owners don’t know the first thing about payment processing. When they get their statement at the end of the month, many of them have no idea what they’re paying for, but they want to be able to accept payments with credit cards, so they just pay it and
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Lucid Payments
In B.C.: 604.744.8100
Toll-Free: 1.855.775.8243
Unit 705B, 30711 Simpson Rd,
Abbotsford, B.C, V2T 6Y7, Canada
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