Telus Corp. wants to pass on credit card fees to customers and plans to add a 1.5 per cent \u0022processing fee\u0022 starting this fall.
In a letter to the Canadian Radio-television and Telecommunications Commission, the telecom giant says the surcharge is intended “to cover the processing costs that credit card payments incur.” The document, which is dated Monday, seeks permission from the regulatory body to add the fee to its terms of service.
The settlement included $188 million in payouts from banks and credit cards, of which about $131 million is available to be paid out to Canadian merchants, as well as a the removal of the surcharge restriction from Visa and Mastercard.
Few smaller retailers however, are expected to add the charge, said Dan Kelly, chief executive of the Canadian Federation of Independent Business. “I think there is likely to be some take-up and interest on surcharging among oligopolies and monopolies, and obviously the telecom industry would certainly in that category.”
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