As of Thursday, companies in Canada will be able to pass credit card fees on to their customers. This change is the result of a multi-million-dollar class action settlement involving Visa and Mastercard on what is known as interchange or swipe fees. These fees can range from about one percent to up to three percent for cards with perks such as cashback or loyalty points, reducing business profits. According to the Canadian Federation of Independent Business, Visa and Mastercard had previously restricted merchants' ability to include additional fees or refuse "premium" credit cards with high costs. Also, some companies, such as Telus, have announced new credit card processing fees. The new rule, which allows merchants to pass fees to consumers, takes effect on October 6, where merchants must provide written notice to Visa and Mastercard, as part of the settlement with companies that were also able to claim a discount of up to $5,000 in credit card fees.