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More people are using credit cards, which has retailers seeking relief.
Mélanie Joly says the move is about creating jobs.
In Canada, merchants pay much more than businesses in other parts of the world for accepting credit card payments.
The integration of payment technology brings wearables to the masses as a mainstream phenomenon. Not everyone wants a device that will track their steps or sleep patterns, but anyone can appreciate the freedom of going walletless.
Studies have shown that on average, we have to enter passwords eight times per day for the 10 different online accounts or applications we regularly use every week. You could use the same password for each, putting you at increased risk for fraud, or you have to rely on your memory for longer or more complex passwords. That's where biometrics come in.
Canada sits high on a global list of countries ready to make the shift because this country has quickly advanced all those requirements. Ensuring the payment made on your phone is as safe as the card you use today is absolutely key. New security measures developed just for mobile payments keep your payment information secure.
As merchants cannot charge different prices for cash, credit or debit payments and obviously price-in the interchange fee, those consumers using cash (e.g. those on fixed incomes such as the retired) are, in effect, paying a hidden fee. So reducing interchange fees as far as possible make sense. Or does it?
We live in a society where you don’t talk about your personal finances in polite company. Or even impolite company. We just
First there was the obligatory second credit card everyone said I needed as an emergency backup. But it wasn't long before the card slots in my wallet began rapidly filling up. One soon held a blue Air Miles card, the one that requires years of collecting to get a one-way trip to Hamilton. From then on, the acquisition of cards continued unabated.
Entrepreneurs often underestimate how long it can take to get paid. Whatever the reason for late payments, it's another headache taking your focus away from what you really love about your business. Here are some simple strategies you can adopt to help encourage timely payment and even speed up the process.