Business Platinum Card from American Express
130,000 MR points
Canadian Businesses Can Charge Fees on Credit Card Payments
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Business Platinum Card from American Express
- Earn 90,000 MR points upon spending $15,000 in the first three months
- Plus, earn 40,000 MR points upon making a purchase in months 14–17 as a cardholder
- And, earn 1.25x MR points on all purchases
- Also, receive a $200 annual travel credit
- Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
- Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
- Credits and rebates for business expenses throughout the year with Amex Offers
- Bonus MR points for referring family and friends
- Qualify for the card as a sole proprietor
- Annual fee: $799
8 Comments
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Great article – very interested to hear if AMEX purchases are exempt from having their interchange fees passed on given they weren’t a part of the judgement. Any insight would be good to hear as I’m seeing some chatter online about this.
My understanding is that Amex never blocked merchants from passing fees onto customers, but it would be disadvantageous for the business to bother accepting Amex and attracting their cardholders only to slap them in the face with a surcharge. With the new rules for Visa and Mastercard, I see merchants who accept Amex following suit with fees for all, or fees for none. Regardless of Amex’s rules past or present, I highly doubt that savvy merchants would bother charging separate prices depending on the customer’s payment network of choice – it’s an enormous hassle for bookkeeping and a terrible customer experience.
I have the same question. I’ve preemptively switched the card I’m using to pay for my Telus bill from Visa to AMEX.
Finally, a good article on PoT. It’s been a long time coming!
Great assessment and a thoughtful analysis of the situation and the possible effects we’ll see
Small businesses will suffer. What are the odds stores like Walmart and Canadian tire will drop the fee if you use their store card. I’d bet my buttons.
The fastest way imagineable that any company I do business with is to begin charing this fee. I actually feel bad for the small businesses that will be harming themselves by charging these fees because I’m sure most people feel this way as well and will drive business away immediately, and its not like the price for these fees isn’t already baked into the price anyway this just feels cheap and slimey.
Its unfortuante but I feel that this will also strongly discourage a lot of consumer behavior as most people spend more with credit vs cash/debit anyway so charging your customers excess to do business with you is also asking for customers to spend less with you and less often.
Feels like a lot of short sightedness here from the companies that fought for this.
Credit cards also benefit the consumer in terms of purchase protection against fraudulent charges or when a company fails to follow through with their end of the bargain. This fee is extremely anti-consumer and encourages consumers to boycott businesses that charge the fee. Is it really economical to pay high wages for staff to deal with large sums of cash or have it be stolen? Companies that don’t accept other methods of payment should be forbidden from passing this fee along to consumers (again) as this fee has already been added to the prices of goods for years, and as mentioned, isn’t going to be lower any time soon. Credit card processing fees are also tax deductions for businesses as a cost of doing business… So it’s an expense, kinda. And finally, if a business is paying a lot in credit card fees, then they are likely profitable. Would they have the same profit if they didn’t accept credit cards at all? Doubt it.
Well articulated arguments, providing context, and suggesting why for some Merchants, adding such a fee will cost them more than they gain.