Excerpt |
---|
This Compliance Guide details the requirements for the Code of Conduct for the Credit and Debit Card Industry in Canada (or “The Code”) for Merchants to be able to accept card payments. |
...
Below is a quick summary of Complaint Element Codes:
Element | Summary |
Element 1* | Transparency and Disclosure Element
|
Element 2* | Notice of Fee Increase or New Fee Element
|
Element 3 | Contract Cancellation
|
Element 4 | No Obligation Acceptance
|
Element 5 | Payment Method Discount Element
|
Element 10 | Negative Option Acceptance
|
Element 11 | Contactless Payments
|
Element 12 | Renewal and Cancellation Disclosure
|
Element 13* | Complaint Handling Process
|
* =Required, Payrix will work with you to resolve this type of complaint.
...
As a part of Partners serving Canadian Merchants, it is also your responsibility to provide each merchant with a monthly statement showing the following information:
Card Type* - MasterCard Credit, Visa Credit, MasterCard Debit, Visa Debit, American Express, or Discover
Number of Sales*
Gross Sales ($)*
Service Rate (%)* - Either a flat rate charged or applicable interchange rates for each card type.
Rate Fee (Rate * Gross Sale ($))*
Per Transaction Fee ($X.XX * Number of Sales ($))*
Total Fees (Rate Fee + Transaction Fee ($))
Effective Merchant Discount Rate (Total Fees/Gross Sales (%))*
Required = *
It is recommended that you provide this information in a .CSV format so that your Merchants can easily view the information in Excel.
...
View file | ||
---|---|---|
|
...
90
...
Days Advance Fee Increase Notification
As Payrix would only increase fees directly applicable to its Partners, Payrix will provide a minimum of 120 days’ notice of any fee increases, the introduction of a new fee related to any credit or debit card transactions, or a reduction in applicable interchange rates. If Payrix’s Partners decide to make changes to fees due to this notice, Partners must provide their merchants with a minimum of 90 days’ notice of any fee increases, the introduction of a new fee related to any credit or debit card transactions, or a reduction in applicable interchange rates.
...