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Depositing – How Does it Happen and What Can Go Wrong

As a merchant, one of your primary goals is probably to get paid at the end of the day.  But did you ever wonder how those transactions you process through your terminal end up as funds in your bank account?  Probably not… the logistics behind transaction processing is hardly what would make up good coffee […]

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Are you ready to pay in a Flash?

In a recent press release, Canada’s largest petroleum company, Suncor or better known as Petro Canada, announced that they plan to implement and rollout INTERAC Flash to all their point of sale terminals and Automated Fuel depensers (AFD’s) in the upcoming months.  They are the first merchant to formally make this announcement with many more […]

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Visa Launches New Prepaid Card

Visa announced today the launch of Canada’s first prepaid healthcare spending account card.  Collaborating with Great West Life, a leading Canadian group benefits provider, they have launched a new Visa prepaid card loaded with the employee’s health care spending account.  This will help to ensure that employees are not paying out of pocket for medical […]

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Contactless Payment Processing in Canada

Contactless Payments Payment processing has seen some major advances over the last few years.  Long gone are the days of the old imprinter and the manual slips… the days where you would call your Acquirer to do a transaction trace and they would say, “Ok… we’ll call you back in three weeks with the information” […]

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Should Visa & Mastercard Allow Merchants to Surcharge on Credit Card Transactions?

On December 15, 2010, the Competition Bureau in Ottawa launched a lawsuit against credit card giants, Visa Canada Corp. And MasterCard International Inc. to argue the credit cards’ company’s policies on preventing merchants from surcharging and enforcing their “honour all cards” policies.  The Bureau alleges that these policies are anti-competitive and hurt both consumers and […]

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Canada is One Step Closer to Becoming a Cashless Country

There is an interesting article about Canadian Payment Processing that was published on Yahoo News the other day by Marc Weisblott. Marc says, “Debit card accounts were being compromised across Canada at an alarming rate in recent years: $142 million was reimbursed to victims in 2009, compared to $60 million just five years earlier. The […]

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