Mr. Speaker, on average, the 6,400 members of the Quebec convenience stores association pay $36,000 each in credit card transaction fees every year. Large retailers like Costco and Walmart no longer want to do business with Visa, whose transaction fees are too high. However, smaller retailers cannot afford to turn their backs on their customers.
When will the minister lower the cap on the credit card transaction fees being charged to merchants, as was done in 28 European countries, where fees are as low as 0.5%?