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WePay - FCAC Code of Conduct Requirements

Partner Guidance

The FCAC Code of Conduct is meant to help merchants understand and compare card accepting costs and easily switch payment providers. This went into effect on March 1st; we need to quickly take steps to be in compliance and the changes will need to be made by April 30th, at the latest.

FCAC (Financial Consumer Agency of Canada) requirement is that all merchant–acquirer agreements will include a cover page containing the following using FCAC templates.

1. Information Summary Box (No partner requirement)

The Information Summary Box contains key elements of the merchant contract. This box is already presented at the top of WePay Canada Terms of Service, which merchants agree to as a function of onboarding. Therefore no partner action required for compliance.

2. Fee disclosure box (Partner action required)

Partner needs to display the Fee Disclosure Box at the top of merchant/user agreement ORcduring onboarding where fees are currently presented to the merchant/user/payee. The entire Fee Disclosure Box should be placed where fees are presented during onboarding, or there should be a prominent link (with the words ‘Required regulatory disclosure of fees in Canada’) to the Fee Disclosure Box.

Note: Fees Disclosure Box
Visa Consumer Credit 2.3% + CA$0.30
Visa Infinite 2.3% + CA$0.30
Visa Infinite Privilege 2.3% + CA$0.30
Visa Business 2.3% + CA$0.30
Visa Business Premium 2.3% + CA$0.30
Visa Corporate 2.3% + CA$0.30
Visa Prepaid 2.3% + CA$0.30
Visa Debit 2.3% + CA$0.30
MasterCard Consumer Credit 2.3% + CA$0.30
MasterCard World 2.3% + CA$0.30
MasterCard World Elite 2.3% + CA$0.30
MasterCard Business/Corporate 2.3% + CA$0.30
MasterCard Debit 2.3% + CA$0.30
MasterCard Prepaid 2.3% + CA$0.30
American Express 2.3% + CA$0.30
Other Fees - Chargeback CA $15.00