An agreement between the Canadian Federation of Independent Business (CFIB) and Mastercard will reduce the cost of acceptance for small- and medium-sized enterprises who are members of the CFIB, strengthening business growth.
“This new agreement with Mastercard is a big deal for small business,” Dan Kelly, president of CFIB, said. “It gives members access to transaction rates that reflect their combined sales of more than $3 billion, and lowers their cost of acceptance. This is a significant step forward in Canada’s payment industry and serves as an important sign of progress in the relationship between payment companies, like Mastercard, and smaller merchants.”
CFIB represents small- and medium-sized businesses in Canada with 109,000 members throughout the country.
“Mastercard is continuing its commitment to small businesses, which play a critical role in fueling the Canadian economy and local communities,” Brian Lang, president of Mastercard in Canada, said. “By recognizing the collective contributions and strength of CFIB’s 109,000 members, we expect our agreement will help small businesses continue to grow and give them more opportunity to bring innovative products and services to Canadian consumers.”
CFIB members already have access to several Mastercard offerings, including Mastercard Business Owner Toolbox, Local Market Intelligence, Master Your Card education sessions, and Digital Main Street.