CFIB and Chase Paymentech deliver credit card savings for small business
Renewed relationship builds on rate cuts, Code of Conduct
Toronto, ON, May 8, 2015 – Chase Paymentech and the Canadian Federation of Independent Business (CFIB) today announced a new agreement that provides preferred pricing to small businesses in an exclusive offering for CFIB members.
After years of lobbying by CFIB, Visa and MasterCard announced that they would reduce the average effective interchange rates on consumer cards. As these new interchange rates take effect, Chase Paymentech and CFIB have renewed their more than 10-year partnership.
"Collectively, CFIB members process billions per year in card-based transactions allowing us to negotiate a much better rate than a small business would be able to get on their own, " said CFIB President Dan Kelly. "Not only does our relationship with Chase Paymentech mean that small firms get a terrific deal, but it ensures our members are treated well by one of the best companies in the business."
Chase Paymentech has a proven track record of delivering customer-focused, innovative, reliable and affordable payment processing solutions for businesses. They are a principal ally to Canada's small businesses through its partnership with CFIB, whose members will benefit from new, lower preferred pricing for MasterCard, Visa and Interac while staying in step with the latest reliable payment processing technology. Chase Paymentech offers a full range of point of sale, wireless, ecommerce and integrated hardware payment solutions that can help small businesses more effectively handle any payment type, including EMV Chip, mobile and contactless.
"We are dedicated to providing our small business clients with solutions that help them reduce the overall cost of payment processing and grow their business," said Nick Samurkas, president, Chase Paymentech Canada. "Our longstanding partnership with CFIB reinforces our commitment to working with entrepreneurs and the small business community."
CFIB played a key role in the development, and recent improvement, of the Code of Conduct for the Credit and Debit Card Industry in Canada, which ensures fairness for merchants in their dealings with payment processors. Chase Paymentech is committed to both the Code and the needs of small businesses.
About Canadian Federation of Independent Business (CFIB)
CFIB is Canada's largest association of small- and medium-sized businesses with 109,000 members across every sector and region. For more information please visit www.cfib.ca
About Chase Paymentech
Chase Paymentech, the global payment processing and merchant acquiring business of JPMorgan Chase & Co. (NYSE: JPM), is a leading provider of payment, fraud and data security solutions capable of authorizing transactions in more than 130 currencies. The company's proprietary platforms enable integrated solutions for all payment types, including credit, debit, prepaid stored value and electronic check processing; as well as alternative and mobile payment options. Chase Paymentech has combined proven payment technology with a long legacy of merchant advocacy that creates quantifiable value for companies large and small. In 2014, the company processed 38.1 billion transactions with a value of $847.9 billion. More information can be found at www.chasepaymentech.ca.
Media contact: Edward Kozmor, Chase, (302) 282-7170, firstname.lastname@example.org
Media contact: Gisele Lumsden, CFIB, 647-808-5769, email@example.com