Mastercard and Visa agreed to enable surcharging in Canada effective October 2022. Moneris is in the process of developing and building this feature for our solutions.
Toronto, ON – October 06, 2022 – As part of the Canadian Credit Card Class Action settlement Mastercard and Visa agreed to modify their card acceptance rules which prohibited surcharging on credit cards in Canada effective October 6, 2022. While the settlement requires Mastercard and Visa rules to allow merchants to apply a surcharge on credit card transactions, the commitment does not obligate acquirers to support surcharging on that date.
Moneris is in the process of developing and building out the surcharging feature for our solutions – both card present and card-not-present. The goal will be to provide our merchants with a solution that limits the amount of work required for them to easily enable surcharging for our off-the-shelf products if they choose.
More information regarding the Mastercard and Visa surcharging rules can be found at www.moneris.com/compliance under “October 2022 - Visa & Mastercard: Revised Standards for Merchant Surcharging.” Further details on timelines for surcharge enablement will be provided as they become available.