It adds upA key business cost from credit card transactions is what's known as interchange rates. Consumers pay, tooWhile consumers don't pay those interchange fees directly, the costs are typically embedded in the prices businesses charge. Every time a consumer pays with a credit card, the merchant pays a fee based on what's known as the interchange rate, which is set by the credit card company. It adds up; a full 99 per cent of their sales are from credit card transactions these days. Dan Kelly, president of the Canadian Federation of Independent Business, says the organization is lobbying the federal government to help get credit card fees lowered for merchants.

Source: CBC News February 09, 2021 09:00 UTC