Bakers Journal

Amex rates reduced for CFIB members

March 7, 2018
By Bakers Journal

Toronto – The Canadian Federation of Independent Business has signed an agreement with Chase Merchant Services that will reduce American Express transaction rates for Canadian small businesses who are members of the association.

The new special rate for CFIB members, available to businesses with less than $500,000 in Amex transactions annually, is aimed at making it easier for small businesses to accept its payment cards, the CFIB said in a news release.

In addition to lower transaction fees, members will benefit from improved cash flow, quicker processing of Amex transactions delivered through Chase, potential to receive next-day payment, reduced administration time: with all transaction information, including Amex, available in one statement from Chase.

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