Visa to cut credit card interchange fees in Canada

Tue Nov 4, 2014 8:20am EST
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Nov 4 (Reuters) - Visa Inc, the world's largest debit and credit card company, said it will cut average interchange fees in Canada to 1.50 percent on consumer credit cards.

Visa and smaller rival MasterCard Inc currently charge 2-3 percent on credit and debit card transactions in the United States.

If clients are disadvantaged due to the decision, it will terminate or amend it, Visa said in a statement on Tuesday.

(Reporting by Tanya Agrawal; Editing by Sriraj Kalluvila)