TD Merchant Services (TDMS) has been partners with the Ontario and Canadian Chambers in providing preferred rates for payment processing to Chamber members for more than 12 years. TDMS has decided that, due to the increasing fragmentation of this program at the regional level, the agreement will expire on December 1, 2013.
Note that the Ontario Chamber of Commerce and Canadian Chamber of Commerce have already begun negotiations to replace the TDMS program. Chambers have valued this merchant program for their members. This move by TDMS gives us an opportunity to try to find another program that is equal or better to the existing one.
What does this mean in the short-term?
- New member merchants can continue to sign up for the TDMS program any time before December 1, 2013; however, no new merchants will be eligible for the program after that date;
- Each member’s individual Merchant Services Agreement with TDMS is not impacted and all the terms and conditions set out in each member’s MSA continue to be in effect;
- TDMS will not be making any immediate changes to the rates and fees that existing members are paying under this program; additionally, as a strong supporter of the Code of Conduct for Debit and Credit Cards in Canada, TDMS is committed to provide you at least 90 days’ notice of any future changes to the terms and conditions of your agreement with us;
- TDMS and the CCC will continue to explore ways to create new partnerships that may be of benefit and of service to the chamber network and member companies of local chambers of commerce. TDMS remains open to working with individual chambers in the various regions across the country where opportunities for mutually beneficial programs may exist.
More information will be available soon.
The post Important information about the TD Merchant Services Affinity Offer appeared first on The Ontario Chamber of Commerce.