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Originally Posted by FlameOn

So... I took a look at VISA's rates in Europe and compared them to Canada, why is the rate so high here? It's nearly 5 times higher here than the UK. Why is Canada not pushing for lower general rates across all companies?

http://www.visa.ca/en/aboutcan/media...es-current.pdf
https://www.visaeurope.com/media/ima...5-73-17806.pdf

Originally Posted by Dan02

How do you think they pay for your rewards cards?

I think this is likely the case, our rates are apparently much higher here than in most other places around the world. Seems to be a common theme in Canada for pretty much everything. Retail goods, cell phones, internet etc. - it all costs more here but I digress. At the end of the day the consumer will pay for whatever happens. Either retailers stop using Visa (or other cc companies) giving the consumer less choice, or the big retailers negotiate better terms with the CC companies (or they are legislated by the government) which is another way of saying the CC companies will be forced to take in less revenue. They will make up for it by increasing fees to the cardholders or reducing awards no doubt. I fully expect this to happen next.