Notice to Merchant of Application, Terms and Conditions Amendments

Pursuant to section 1.6(i) of the Merchant Agreement, the following terms have been added to the Merchant Application, Terms and Conditions (the “Agreement”), effective April 29, 2025, and will be posted on this page for seven (7) consecutive days to serve as notice to the Merchant of same:

1. Information Summary Box – The merchant can also cancel agreements with Acquirers and Downstream Participants, including any Related Service Agreements, without any form of penalty within 70 calendar days after the effective date of the following: an increase of any existing Acquirer/Processor Fee or applicable domestic PCNO Core Fee passed on in part or in full to a merchant, the introduction of a new Acquirer/Processor Fee or applicable domestic PCNO Core Fee passed on in part or in full to a merchant; and/or a reduction in applicable domestic PCNO Core Fees that are not passed on in full to a merchant.
   
2. Section 1.6(g) – Acquirers or Downstream Participants, as applicable, will notify their merchants between 30 and 60 calendar days prior to the effective date of: 1. any new or increased Acquirer/Processor Fee passed on in part or in full to merchants; 2. Any new or increased applicable domestic PCNO Core Fee passed on in part or in full to merchants; or 3. any reductions in applicable domestic PCNO Core Fees not pass on in full to merchants. For all types of Card processing plans, the notice to merchants will clearly state: 1. the previous and the new amount(s) of interchange rates, wholesale discount rates, network assessment fees, or any other rate and fee charged by the Acquirer or Downstream Participant; 2. whether the change is originating from the PCNO, Acquirer, or Downstream Participant; 3. the amount of the change that will be pass on to the merchant; and 4. that the merchant has a right to provide notice of its intent to exit its agreement without penalty within 70 calendar days after the effective date of the upcoming change. The notice to the merchant must include the date of which the 70-calendar day period expires. If a merchant’s agreement has no fixed term or penalties for cancellation, the merchant must be provide instead with a reminder of its right to exit without penalty at any time.
   
3. Section 1.6(g) – After a merchant provides notice of its intent to exit, the Acquirer or Downstream Participant will send the merchant any necessary documentation to process the cancellation within five (5) business days. The cancellation will become effective on the date required by the merchant, provided that: 1. the merchant has fulfilled any outstanding obligations for cancellation (e.g., rental equipment returned, and necessary forms signed); and 2. the requested date is at least 30 Calendar days after the date the merchants submits any required cancellation documentation, unless an earlier date is agreed to by both parties.

1. Section 1.6(j) – Merchants will receive and/or have access to the following information, as applicable, no less frequently than monthly: 1. the effective merchant discount rate for the aggregate of each PCNO Card type the merchant accepted during the period; 2. the rate and total amount charged for interchange, wholesale discount rates, network assessment fees, and all other rates charged by the Acquirer or Downstream Participant in that period; and 3. the number and volume of transactions for each type of payment transaction. For blended/flat rate pricing models, in lieu of the above information, merchants will receive and/or have access to the following information, as applicable, no less frequently than monthly: 1. the per transaction rate, inclusive of any percentage discount rates and any per transaction supplemental charge; and 2. the rate and total amount charged for interchange, wholesale discount rates, network assessment fees, and all other rates and fees charged by the Acquirer or Downstream Participant in that period not included in the per transaction rate described above.
   
2. Section 1.6(w) – All card processing applications/quotes/proposals provided by Acquirers and/or Downstream Participants include a Cost per Transaction Disclosure. All card processing applications/quotes/proposals provided by Acquirers and/or Downstream Participants include a Disclosure of Fees. The data and rationale used to populate the Cost Per Transaction Disclosure, such as Card mix and volumes, will be provided to merchants to ensure that merchants can obtain more easily comparable quotes. All promotional offers and/or bundled services included in the Card processing application/quote/proposal will be disclosed, including the length of the promotional period (where applicable).

4. Section 1.6(y) – Merchant-Acquirer and merchant-Downstream Participant agreements will be amended, where applicable, in accordance with the above-noted updates to the Code. Policies, procedures and training documentation will be amended, where applicable, in accordance with the above-noted updates to the code.
   
5. Section 1.2(a) – Notwithstanding the forgoing, the Merchant is prohibited from directly applying a surcharge to any Cardholder for the use of Interac Debit. Processor shall, in its sole discretion, apply a surcharge in accordance with the surcharge guidelines provided by Interac Debit:
   1. the surcharge amount must not exceed the maximum surcharge amount per Transaction as listed on Interac’s website: https://www.interac.ca/en/payments/business/understanding-fees/; and 
   2. if the debit services from more than one payment network are offered at a POS device, the Corporation’s surcharge amount:

                                               i.     is only applicable if the other, non-Interac payment network(s) also applies a surcharge;

                                             ii.     if applied, must not exceed the other, non-Interac payment network(s) surcharge, which is up to Interac’s maximum surcharge amount; and

                                           iii.     if applied, must comply with subsection (a) above.