In recent years, Stripe has seen an increase in network fees and other costs, such as new CVV check fees and higher commercial card fees. In October of this year, Visa and Mastercard will decrease the fees Stripe pays for personal credit cards by up to 0.10% for qualifying small businesses. On average, these changes increase costs for Stripe. However, your pricing will remain the same.

Is my price changing?

No, your pricing will remain the same.

Each card transaction that your business processes incurs many fees from card networks such as Visa or Mastercard. These fees change multiple times a year. Under your current pricing plan, Stripe simplifies this for your business by providing a single, consistent price per transaction.

In recent years, Stripe has seen an increase in network fees and other costs for Canadian businesses. From 19 October 2024, Visa and Mastercard will decrease the fees Stripe pays for personal credit cards by up to 0.10% for qualifying small businesses. On average, these changes increase costs for Stripe. However, your pricing will remain the same.

Can you tell me more about the upcoming decreases to Visa and Mastercard fees?

There are two main types of fees charged to Stripe for processing a Visa or Mastercard transaction: Scheme fees (paid to card networks) & interchange fees (paid to issuing banks). From 19 October 2024, Visa and Mastercard are decreasing the domestic interchange fees Stripe pays for transactions processed by qualifying small businesses in Canada. Changes include reducing:

• Interchange fees for most domestic online transactions using personal cards by up to 0.10% (from 1.67% to 1.57%) for Mastercard and up to 0.10% (from 1.40% to 1.30%) for Visa
• Interchange fees for most domestic in-store transactions using personal cards by up to 0.44% (from 1.25% to 0.81%) for Visa and up to 0.27% (from 1.22% to 0.95%) for Mastercard

In addition to these decreases, there have also been recent increases to network costs and other costs which include new CVV check fees, higher fees for commercial cards, new types of authorisation fees and introduction of GST/HST for all scheme fees. On average, these changes increase costs for Stripe. However, your pricing will remain the same.

How can I confirm if I am a qualifying small business?

Visa and Mastercard determine small business eligibility based on the annual transaction amount with each card network, in addition to other criteria. The annual transaction amounts are CAD $175,000 or below for Mastercard and CAD $300,000 or below for Visa, from 1 Apr 2023 to 31 Mar 2024.

If you only process with Stripe, you can see your annual transaction amount in your Dashboard:

• Go to "Transaction"s and select "Succeeded & refunded transactions"
• Filter for the time frame above in ‘date & time’
• Select Visa or Mastercard under ‘card brand’

How does this affect my connected accounts?

There are no changes to Stripe fees for you or your connected accounts.

• If you use Stripe Connect, your connected accounts use the Stripe Dashboard, and Stripe manages risk: Stripe will automatically notify your connected accounts with these updates.
• For all other businesses that use Stripe Connect: You are responsible for sharing this update with your Canadian users in a timely manner.

Why did I get this notice?

This support page provides you with more details on the notice we sent to Canadian businesses. That notice is a legal notice sent to Stripe users, even those who have unsubscribed from optional marketing notices. You cannot unsubscribe from legal notices, but if you’d prefer not to receive any further legal notices from Stripe, you can close your account by following these steps.

Do I need to take action?

If you use Stripe Connect, your connected accounts use the Stripe Dashboard, and Stripe manages risk: There’s no action needed from you. Stripe will automatically notify your connected accounts with these updates.

For all other businesses that use Stripe Connect: You are responsible for sharing this update with your Canadian users in a timely manner.