The savings are very much front end-loaded to in-store transactions. There was—and I'm pleased with it—a small reduction that was negotiated between the Government of Canada and Visa and Mastercard for e-commerce, but those savings are much more modest. The fees for e-commerce are dramatically higher than they are.... If you use Stripe, for example, I think you're charged 2.9% of the sale plus 30¢ per transaction, so almost 3% of your sale is going every time there's an e-commerce transaction. That's a lot of money.
On November 4th, 2024. See this statement in context.