Mr. Speaker, small and medium-sized businesses are not protected by the code. The Conservatives’ voluntary code of conduct does not work.
In addition to a 33% increase in processing fees, the cost of foreign-card transactions would double in 2013. Moreover, Visa will be issuing ultra-premium cards for frequent users, which will cost merchants even more in fees. There is no end to it. The Conservatives must take action, at last, to protect small business and stop hiding behind their so-called code of conduct.
When will there be regulations to protect the profit margins of Canada’s small and medium-sized businesses from abuse by the credit card companies?