CFIB and Mastercard partner to benefit small businesses

Toronto – The Canadian Federation of Independent Business and Mastercard have announced a partnership that gives members access to competitive transaction rates and lowers their cost of acceptance.

“This new agreement with Mastercard is a big deal for small business,” said Dan Kelly, president of CFIB, in a news release. “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,” Kelly said.

“Mastercard is continuing its commitment to small businesses, which play a critical role in fueling the Canadian economy and local communities,” said Brian Lang, president of Mastercard in Canada. “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.”