FeeFighters, a free comparison shopping engine that offers businesses a head-to-head comparison of credit card processors and their fees, has announced it's expanded its money-saving service into Canada. FeeFighters helps merchants "cut through the murky waters of notoriously inflated rates, confusing contract terms, and hidden costs" to find the absolute best deal.
The debate over hidden contract traps and surprise fees has reached a fevered pitch in Canada. Last year the situation prompted the Government of Canada to implement a code of conduct in an effort to ensure merchants are fully informed of the real costs associated with accepting credit card payments. But the code is only voluntary. Fee structures remain unclear and unstandardized.
“It’s incredibly confusing, especially for small business owners who are trying to focus on actually running their business,” says FeeFighters CEO and Co-Founder Sean Harper. “They often feel powerless and taken advantage of, and most simply don’t have the time to pour over the minute details of lengthy contracts filled with financial jargon. They need a simple solution to compare the options and that’s what FeeFighters provides.”
FeeFighters compares its style of service to comparison shopping for air travel on Priceline or Expedia. Merchants simply log on to FeeFighters.ca and answer a few questions about their business. The site then delivers a range of competitive bids from providers that have passed through FeeFighters’ vetting process.