Canadian Retailer - Summer 2015 - 13
WHO ARE THE PLAYERS AND WHAT ARE THEIR ROLES?
NETWORK
(card company)
pays network
transaction fee
pays network
transaction fee
OPEN
pays
merchant at
discounted
rate
ISSUER
(bank)
MERCHANT
Payment card network rules will ensure that
merchant statements include the following:
* Effective merchant discount rate for each
type of payment card accepted;
* Interchange and all other applicable rates
charged to the merchants by the acquirer;
* The number and volume of transactions
for each type of payment;
* The total amount of fees applicable to each
rate; and,
* Details of each fee and to which payment
card network they relate.
PROCESSOR
(POS provider)
provides goods
to customer
pays issuer
outstanding
balance
clear statements
sends payment
to processor
(less interchange)
CUSTOMER
notice Requirements
The Enhanced Code expands the 90-day
notice requirement for fee changes to also
include reductions in interchange rates, and
empowers merchants to cancel their processor contract if the savings are not fully passed
on. It also stipulates that fixed-term contracts
will not be automatically renewed for the initial term length, but will instead renew for a
period not longer than six months.
dispute Resolution
THANKS TO RCC'S ADVOCACY, MERCHANTS CAN CHOOSE TO...
ACCEPT contactless
payment by providing
express consent
Use VISA's
payment network
Accept network's
CREDIT only
NOT ACCEPT
contactless
payment
Use MASTERCARD's
payment network
Accept network's
DEBIT & CREDIT
Use INTERAC's
payment network
Accept network's
DEBIT only
CANCEL
contactless payment*
*at no cost, with 30 days notice
www.retailcouncil.org/cdnretailer
The Enhanced Code lays out a disputeresolution path. If a merchant believes that
a service provider's conduct is contrary to
the Code, the merchant may report the issue
to its acquirer. The acquirer will review the
issue with the merchant, undertake an investigation, and respond within 90 days.
If unhappy with the resolution, the merchant
may submit the complaint to the payment card
networks, who will work to find and communicate a resolution to the merchant within 45
days. The merchant may also file a complaint
directly with the Financial Consumer Agency
of Canada to investigate.
Count on RCC for help
This is admittedly a complicated issue. RCC
has already contacted acquirers to reinforce
expectations that interchange savings will
be passed on to merchants. If you need help
dealing with an acquirer, understanding your
merchant statement, or have any questions, we
are here to help! Call us at 1-888-373-8245.
For more information concerning the enhanced code of conduct for the credit and
debit card industry and related FAQs, visit
www.retailcouncil.org.
Summer 2015 | canadian REtailER
| 13
http://www.retailcouncil.org
http://www.retailcouncil.org/cdnretailer
Canadian Retailer - Summer 2015
Table of Contents for the Digital Edition of Canadian Retailer - Summer 2015
Publisher's Desk
Retail Currents
Member Profile
Retail: At Issue
Growing Sales Through Online Marketplaces
The Future of Retail
Getting Online
The Mobile Shift
Rebooting for Better Business
Top Grocery Rookies Showcase Hunger for Innovation
Advertiser's Index
Retail Quick Tips
Canadian Retailer - Summer 2015 - cover1
Canadian Retailer - Summer 2015 - cover2
Canadian Retailer - Summer 2015 - 3
Canadian Retailer - Summer 2015 - Publisher's Desk
Canadian Retailer - Summer 2015 - 5
Canadian Retailer - Summer 2015 - Retail Currents
Canadian Retailer - Summer 2015 - 7
Canadian Retailer - Summer 2015 - 8
Canadian Retailer - Summer 2015 - 9
Canadian Retailer - Summer 2015 - Member Profile
Canadian Retailer - Summer 2015 - 11
Canadian Retailer - Summer 2015 - Retail: At Issue
Canadian Retailer - Summer 2015 - 13
Canadian Retailer - Summer 2015 - Growing Sales Through Online Marketplaces
Canadian Retailer - Summer 2015 - 15
Canadian Retailer - Summer 2015 - The Future of Retail
Canadian Retailer - Summer 2015 - 17
Canadian Retailer - Summer 2015 - 18
Canadian Retailer - Summer 2015 - 19
Canadian Retailer - Summer 2015 - 20
Canadian Retailer - Summer 2015 - 21
Canadian Retailer - Summer 2015 - 22
Canadian Retailer - Summer 2015 - Getting Online
Canadian Retailer - Summer 2015 - 24
Canadian Retailer - Summer 2015 - 25
Canadian Retailer - Summer 2015 - 26
Canadian Retailer - Summer 2015 - 27
Canadian Retailer - Summer 2015 - The Mobile Shift
Canadian Retailer - Summer 2015 - 29
Canadian Retailer - Summer 2015 - 30
Canadian Retailer - Summer 2015 - 31
Canadian Retailer - Summer 2015 - 32
Canadian Retailer - Summer 2015 - 33
Canadian Retailer - Summer 2015 - Rebooting for Better Business
Canadian Retailer - Summer 2015 - 35
Canadian Retailer - Summer 2015 - 36
Canadian Retailer - Summer 2015 - 37
Canadian Retailer - Summer 2015 - Top Grocery Rookies Showcase Hunger for Innovation
Canadian Retailer - Summer 2015 - 39
Canadian Retailer - Summer 2015 - 40
Canadian Retailer - Summer 2015 - 41
Canadian Retailer - Summer 2015 - 42
Canadian Retailer - Summer 2015 - 43
Canadian Retailer - Summer 2015 - 44
Canadian Retailer - Summer 2015 - Advertiser's Index
Canadian Retailer - Summer 2015 - Retail Quick Tips
Canadian Retailer - Summer 2015 - cover3
Canadian Retailer - Summer 2015 - cover4
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