Are there no Canadian financial institutions capable of launching their own cards and payment processors? That seems like a pretty big issue if the US is still skimming money off of each Buy Canadian purchase made by any medium other than cash.
The banks do take a hefty cut of that transaction fee, and visa/mastercard get a smaller cut. But that’s still a lot of money going to the US for no reason.
We do have Interac here in Canada which charges a few cents instead of a percent, and it’s Canadian.
Are there no Canadian financial institutions capable of launching their own cards and payment processors? That seems like a pretty big issue if the US is still skimming money off of each Buy Canadian purchase made by any medium other than cash.
All the Canadian banks should start a joint venture for a Canadian credit card.
The banks do take a hefty cut of that transaction fee, and visa/mastercard get a smaller cut. But that’s still a lot of money going to the US for no reason.
We do have Interac here in Canada which charges a few cents instead of a percent, and it’s Canadian.