Versions Compared

Old Version 26

changes.mady.by.user Michelle Gainer

Saved on

compared with

New Version 27

changes.mady.by.user Michelle Gainer

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.
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.

Table of Contents
minLevel1
maxLevel1

To meet these requirements you must:

  • Provide monthly merchant statements to your merchants/sub-merchants.

    • When there is a fee increase or introduction of a new fee, provide sub-merchants

    As a registered Payment Facilitator in Canada, Payrix must comply with the requirements of the Code of Conduct for the Credit and Debit Card Industry in Canada (referred to as the “Code”). As a Partner to Payrix you will be required to help us comply with some of the Code requirements as you are the merchant facing entity that directly communicates with the merchant.

    Tip

    These requirements include:

    Note

    Monthly Billing Statements - You will be required to provide a Code Compliant Monthly Merchant Statement that clearly displays the rates and fees associated with each card brand and type accepted by the merchant;

    Note

    Fee Change/Introduction of New Fee Notice - You will be required to provide merchants with a minimum of 90 days’ notice of any

    fee changes and/or increases.You are

    new fees or fee increases related to credit or debit card transactions, or of a reduction in applicable interchange rates; and

    Note

    Complaints Handling Process - You will be required to establishing a

    complaint

    complaints intake process that includes escalation to Payrix for Code related complaints.

    Table of Contents
    minLevel1
    maxLevel1

    Further guidance on how to meet these requirements are outlined below. If you have any issues or questions on how to comply with these requirements, please reach out to support or call (855) 672-9749.

    ...

    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.

    ...

    Below is a quick summary of Complaint Element Codes:

    Element

    Summary

    Element 1*

    Transparency and Disclosure Element

    • Complaints about Payrix sub-merchant agreement(s) not being clear or failure to disclose all fees in the summary/disclosure boxes.

    • Complaints about issues showing all card fees on monthly billing statements.

    Element 2*

    Notice of Fee Increase or New Fee Element

    • Complaints about card processing or integrated billing fee increases being implemented without a 90-day notification

    Element 3

    Contract Cancellation

    • Complaints about account cancellation issues with Payrix due to a fee increase that they wish to decline.

    Element 4

    No Obligation Acceptance

    • Complaints about Payrix requiring a merchant to accept credit & debit from a card network if they only want to accept debit or vise versa.

    Element 5

    Payment Method Discount Element

    • Complaints about Payrix restricting a merchant from offering discounts on different payment methods.

    Element 10

    Negative Option Acceptance

    • Complaints where Payrix automatically enrolls a merchant in a new product or service

    Element 11

    Contactless Payments

    • N/A for Payrix at this time.

    Element 12

    Renewal and Cancellation Disclosure

    • Complaints about Payrix contract renewals and cancellations. (Outside of the fee change cancellation)

    Element 13*

    Complaint Handling Process

    • Complaints about Payrix either:

      • Mishandling a complaint,

      • Lacking punctual and appropriate response timelines,

      • Not offering a website you could refer to, or;

      • Weren’t provided with a path for escalation.

    * =Required, Payrix will work with you to resolve this type of complaint.

    ...