Partnership recognizes contribution and
importance of small businesses in Canada
TORONTO, Feb. 16, 2017 /CNW/ - The Canadian
Federation of Independent Business (CFIB) and Mastercard today
announced an agreement that recognizes the contribution and
importance of small businesses to the Canadian economy and local
communities. The partnership demonstrates the benefits of
electronic payments in Canada
while helping to reduce the cost of acceptance for small- and
medium-sized enterprises (SMEs) who are members of the CFIB -
Canada's largest organization
representing SMEs.
"This new agreement with Mastercard is a big deal for small
business," said Dan Kelly, President
of CFIB. "It gives members access to transaction rates that reflect
their combined sales of more than $3
billion, and lowers their cost of acceptance. This is a
significant step forward in Canada's payment industry and serves as an
important sign of progress in the relationship between payment
companies, like Mastercard, and smaller merchants," Kelly
concluded.
"Mastercard is continuing its commitment to small businesses,
which play a critical role in fueling the Canadian economy and
local communities," said Brian Lang,
President of Mastercard in Canada.
"By recognizing the collective contributions and strength of CFIB's
109,000 members, we expect our agreement will help small businesses
continue to grow and give them more opportunity to bring innovative
products and services to Canadian consumers."
The agreement advances Mastercard's strategy to strengthen the
growth of SMEs across Canada. In
addition to the new CFIB membership offer, business owners already
have access to a number of valuable, Canadian-specific resources
from Mastercard, created with local business owners in mind,
including the Mastercard Business Owner Toolbox (MBOT),
Local Market Intelligence, Master Your Card education
sessions, and Digital Main Street, in partnership with the
City of Toronto.
More details on the new partnership are available at
www.cfib.ca/mastercard.
About Mastercard
Mastercard (NYSE:
MA), www.mastercard.com, is a technology company in the global
payments industry. We operate the world's fastest payments
processing network, connecting consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. Mastercard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardCAnws,
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About CFIB
CFIB is Canada's largest association of small and
medium-sized businesses with 109,000 members across every sector
and region.
SOURCE Canadian Federation of Independent Business