(Ottawa) The Department of Finance says the federal government has not reneged on the Liberal promise to lower merchant fees for every purchase a customer pays with their credit card.
The Liberals promised in the budget tabled in the spring to consult on this possible change, which took place last summer.
Since then, Finance Minister Chrystia Freeland was due to unveil next steps, including possible legislative changes, during her economic update presented earlier this month, but she did not mention them.
Despite this omission, the ministry ensures that the file is progressing and that discussions are underway with the parties involved. It is added that any update “will be disclosed at the appropriate time.”
Merchant associations say they are relying on the federal government to act on this issue in order to reduce the burden of credit card transaction costs. These costs are heavy to bear for SMEs already in a precarious situation.