Restaurant industry supports cap on credit and debit card fees



    TORONTO, Dec. 18 /CNW/ - The Canadian Restaurant and Foodservices
Association (CRFA) strongly supports Alberta Premier Ed Stelmach's
recommendation to the Prime Minister to limit credit and debit processing
fees. The recommendation was part of the Premier's suggested measures for
inclusion in the 2009 federal budget.
    CRFA has also called on the government to provide oversight of the fees
that credit card companies are charging merchants. Every time a restaurant
operator accepts payment via credit card, the banks and credit card companies
charge the restaurant a processing fee. These fees keep climbing, leading to
higher costs for restaurant operators and higher menu prices for consumers.
    "At a time when many Canadian restaurants are struggling to keep their
doors open, credit card companies have repeatedly increased fees or introduced
new fees, and have automatically moved some cardholders to premium cards that
carry higher fees for merchants," says Justin Taylor, CRFA's Vice President,
Labour and Taxation. "This has resulted in a significant and unpredictable
increase in costs for restaurant owners, at a time when every dollar counts."
    While other countries have taken measures to regulate these fees, Canada
has yet to do so and Canadian merchants pay among the highest interchange fees
in the world. Government intervention would provide much-needed benefit to all
sectors of the economy that accept payment by credit card.

    CRFA has joined a coalition of more than 120,000 businesses from coast to
coast to put a stop to skyrocketing fees. To learn more about how credit card
fees are affecting businesses in your community, visit
http://stopstickingittous.com.





For further information:

For further information: Justin Taylor, Vice President, Labour and
Taxation, (416) 649-4214 or jtaylor@crfa.ca; Jeni Armstrong, Communications
Specialist, (416) 649-4254 or jarmstrong@crfa.ca


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