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In all fairness, interact involves fees for the consumer (depending on which bank you are with), and, outside of students who may not be eligible for the, almos
by herge 14y ago
In all fairness, interact involves fees for the consumer (depending on which bank you are with), and, outside of students who may not be eligible for the, almost everybody has credit cards.
- kerryfalk 14y agoWhich fees? On rare occasions some retailers try to charge a small fee at the point of sale on debit payments but I've never heard of a fee for the consumer to use debit. I don't use cash and haven't for years. I only pay with debit.
- run4yourlives 14y agoSome banks charge a "$x fee per transaction". This has gone out of style though because of competition. The practice of charging $x to use your card (whatever it is) by smaller businesses is actually against their terms of service and you can technically report them.
- run4yourlives 14y agoYou aren't incorrect; nonetheless interac is the number one choice of Canadians when it comes down to paying for something. In fact in 2000, Interac Direct Payment surpassed cash as Canadians' preferred method of payment,7 and debit card payments have continued to grow.[1] Offering credit cards only is a bad choice for a business, since Canadians will be looking to use Interac as well. The entire "debit card" market as Americans understand it doesn't exist in Canada for exactly this reason. Re: Fees - Many banks now offer no fee debit usage. Such as my credit union - Coast Capital Savings. I haven't paid a surcharge on my debit card use since like 2001. 1. http://www.cba.ca/en/media-room/50-backgrounders-on-banking-issues/616-canadas-efficient-and-secure-payments-system http://www.cba.ca/en/media-room/50-backgrounders-on-banking-...